AML Bitcoin Creator Gets 7-Year Sentence Over Crypto Fraud

Rowland Marcus Andrade, founder of the cryptocurrency AML Bitcoin, has been sentenced to 84 months (7 years) in prison for defrauding people who funded the project. U.S. officials say Andrade raised about $10 million between 2014 and 2019 using false claims.

According to the Department of Justice (DOJ), Andrade lied about features and partnerships that didn’t exist. He raised the funds through his company, NAC Foundation.

False Claims and Misused Funds

One of Andrade’s false claims was that the Panama Canal Authority would let ships use AML Bitcoin. Prosecutors said that there was no discussion about such a deal.

He also spent over $2 million of investor funds on himself. This included buying luxury cars and property in Texas.

U.S. Attorney Craig Missakian said Andrade repeatedly lied to make the project seem real. His actions caused financial damage to people who trusted him with their money.

The report stated that a restitution hearing will occur in September 2025. At that time, the court will decide how much Andrade must repay and which assets may be taken. The report added that he will begin serving his sentence on October 31, 2025.

Crypto Fraud Cases on the Rise

The U.S. law authorities have recently handled various crypto-related crimes, including Andrade’s case. Officials warn that digital asset scams are becoming more common and harder to detect.

In another case, Vincent Anthony Mazzotta Jr. admitted to running a $13 million Ponzi scheme. He used a fake crypto business to trick people and now faces up to 15 years in prison for money laundering.

A separate case in Colorado involves a Denver couple, Eli and Kaitlyn Regalado. The court charged the duo with 40 counts for promoting a worthless cryptocurrency called INDXcoin. Investigators say they used over $1 million of the funds on personal expenses, including home renovations. The couple mainly targeted people in faith-based communities.

These cases show how crypto-related fraud is spreading. Authorities urge the public to do proper research before investing in any crypto project.