Rowland Marcus Andrade, the founder and CEO of AML Bitcoin, has been sentenced to seven years in federal prison for leading a multi-million-dollar cryptocurrency fraud. The case, which drew national attention, revealed how Andrade misled investors with false promises and used their money to fund his lavish lifestyle. The sentence was handed down by Chief U.S. District Judge Richard Seeborg following a five-week jury trial that concluded in March 2025.
High Hopes, Big Lies
At the center of the case was AML Bitcoin, a digital currency that Andrade claimed was highly secure and technologically advanced. He told investors that it would revolutionize the crypto market. Andrade also claimed that major deals were in place, including one with the Panama Canal Authority, suggesting that AML Bitcoin would soon be used for ships passing through the canal. That statement, like many others, turned out to be completely false.
The jury found that Andrade knowingly misrepresented the development and capabilities of AML Bitcoin. He misled the public about business deals, release dates, and the viability of the project. These lies convinced investors to pour around $10 million into the scheme.
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However, rather than investing the funds in the promised technology, Andrade used over $2 million for his personal gain. He bought two properties in Texas and two luxury cars, all funded by people who thought they were investing in the future of digital finance.
Lavish Lifestyle Funded by Fake Promises
Court records show that Andrade moved the investor money through a series of bank accounts to hide where the funds were going. He then used those laundered funds to support his personal lifestyle. Agencies from the FBI and IRS Criminal Investigation (IRS-CI) worked together to follow the money trail, ultimately exposing the full scale of the fraud.
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U.S. Attorney Craig H. Missakian stated that Andrade “repeatedly made false claims about a sophisticated cryptocurrency to create the illusion of a legitimate business.” He emphasized that the case sends a clear message: financial fraud, whether in traditional finance or digital assets, will not go unpunished.
FBI Special Agent in Charge Sanjay Virmani called Andrade’s actions “deception dressed up as innovation.” He noted that victims believed they were investing in a promising technology but were instead funding Andrade’s personal luxury.
IRS-CI Oakland Field Office Special Agent in Charge Linda Nguyen added that her team “followed the money” to reveal the truth. “Mr. Andrade enriched himself by misrepresenting cryptocurrency technological advances he never delivered upon,” she said.
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Justice Delivered: Prison Time and More to Come
Along with the 84-month prison sentence, Judge Seeborg also imposed a three-year supervised release period. This means that after Andrade completes his prison term, he will continue to be monitored.
A court hearing is scheduled for September 16, 2025, to determine the exact amount of money Andrade must repay to his victims and what assets will be seized. These may include the properties and luxury items he bought using the stolen funds.
Rowland Marcus Andrade is required to report to prison on October 31, 2025.
The case was prosecuted by Assistant U.S. Attorneys Christiaan Highsmith, David Ward, and Karen Beausey, as well as Trial Attorney Matthew Chou. Support in the case came from Tina Rosenbaum. The investigation was carried out by the FBI and IRS-CI, whose teams pieced together how the fraudulent funds were collected and spent.