Rowland Marcus Andrade, 47, the creator of the cryptocurrency AML Bitcoin, received a 7-year prison sentence today on 30th July after a federal jury found him guilty of wire fraud and money laundering.
The ruling follows a five-week trial in March 2025 in which prosecutors showed he swindled investors out of $10 million and diverted $2 million of those funds to buy homes and luxury cars.
Background of the Scheme
Andrade pitched AML Bitcoin as a cutting-edge digital currency backed by groundbreaking technology. He claimed major partnerships and imminent product launches, including an alleged deal with the Panama Canal Authority to allow ships to pay tolls with AML Bitcoin.
In reality, no such agreement existed. Investors were lured by promises of rapid growth and exclusive access to a novel payment method.
Evidence Presented at Trial
Court documents revealed that Andrade made dozens of false statements to potential buyers. He misrepresented the token’s development status, exaggerated its business prospects and provided bogus timelines for its launch.
The jury heard bank records showing that Andrade routed investor money through multiple accounts to conceal its origin before spending over $2 million on two Texas properties and two high-end vehicles.
Sentencing Details
Chief Judge Seeborg imposed the 7-year term under federal statutes covering financial fraud. Andrade also faces a 3-year period of supervised release and must forfeit all proceeds tied to his crimes.
A hearing is set for September 16, 2025, to decide the exact amounts he must surrender and the restitution he will owe to defrauded investors. He will begin serving his sentence on October 31, 2025.
Reactions from Authorities
“Today Andrade learned the price of his greed,” said U.S. Attorney Craig H. Missakian. He stressed that the case demonstrates the Justice Department’s resolve to protect both traditional and digital markets from fraud.
FBI Special Agent in Charge Sanjay Virmani added that Andrade’s scheme preyed on investors’ trust and highlighted the need for vigilance against online scams.
IRS Criminal Investigation Special Agent in Charge Linda Nguyen noted that her team followed the money trail and exposed the elaborate laundering network.
Prosecutors’ and Defense’s Positions
Prosecutors had asked for a prison term exceeding 17 years, citing the scope of the fraud and the amount stolen. In contrast, Andrade’s lawyers sought a 2-year sentence followed by supervised release, arguing factors in his favor.
The court’s decision lands between those requests, reflecting both the seriousness of the offense and standard sentencing guidelines for white‑collar crime.
Impact on the Crypto Community
The case sends a warning to token promoters and investors alike. It underscores the risks of unverified claims and the importance of conducting independent due diligence before investing in digital assets.
Legal experts say the sentencing could spur more regulatory scrutiny of cryptocurrency offerings and force exchanges to tighten their listing standards.
Also Read: China’s Kuaishou Employees Sentenced for $20 Million Embezzlement and Crypto Laundering