• Rowland Marcus Andrade, founder of AML Bitcoin, was sentenced to seven years in prison for wire fraud and money laundering, after defrauding investors of roughly $10 million.
  • Andrade made false claims, like AML Bitcoin being accepted by the Panama Canal Authority, and used over $2 million of investor funds for personal luxuries, including properties and vehicles.
  • His prison term begins October 31, 2025, with a September 16, 2025 hearing to determine restitution and asset forfeiture.

Rowland Marcus Andrade, the founder behind the AML Bitcoin cryptocurrency, has received a seven-year prison sentence following his conviction for wire fraud and money laundering, as announced by the US Department of Justice on Tuesday.

Andrade defrauded investors of roughly US$10M (AU$15.2M) through deceptive marketing and misleading claims about AML Bitcoin’s capabilities and supposed strategic partnerships. 

Among the fraudulent assertions was the claim that the Panama Canal Authority had agreed to permit AML Bitcoin as a payment method for vessels transiting the canal, despite no such agreement ever existing.

Related: Broke Perth-based Crypto Trader Sentenced to 25 Years for Murdering Mother in $1.15M Insurance Plot

The defendant made one false claim after another about a sophisticated cryptocurrency offering to create the illusion of a legitimate business. He exploited numerous investors who put their trust in him, not knowing that their hard-earned money was in fact funding his lavish lifestyle.

U.S. Attorney Craig H. Missakian.

There isn’t a proper way to express the level of irony in this story, given that AML Bitcoin was a project centred around a cryptocurrency built for compliance and fight… well, money laundering. The selling point was the “built-in” mechanism (they never elaborated on this though) integrated with Know Your Customer (KYC) checks.

Money Spent on Personal Luxuries, Cars, Properties

Court findings revealed Andrade spent more than US$2M (AU$3.10M) of investors’ funds on personal luxuries, notably two properties in Texas and two luxury vehicles.

Andrade’s prison term begins on October 31, 2025. A separate court hearing scheduled for September 16, 2025, will address restitution to victims and forfeiture of Andrade’s assets.

Andrade’s seven-year prison sentence is far shorter than the more than 17-year term prosecutors had requested in a July 22 filing. However, the final sentence significantly exceeds the two-year prison term followed by supervised release sought by Andrade’s legal team.

Related: Institutions Quietly Pile Into XRP and Solana Ahead of Ripple SEC Verdict, Says Bitget

The post Crypto Conman Behind AML Bitcoin Gets 7 Years for $10M Fraud Scheme appeared first on Crypto News Australia.

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