cryptd.in

另类 LinkedIn 适合加密人才

7 Years in Prison for AML Bitcoin Founder and CEO After a Multi-Million-Dollar Fraud

-

由

cryptd.in
于

White-collar crime surrounding cryptocurrencies was rampant in the early days of the industry. Still, the law is continuing to crack down on those who took advantage of the lack of regulation available at the time.

What was touted as innovation turned out to be a scheme used to fund a person’s lavish lifestyle.

Justice Served

The U.S. Attorney’s Office in the Northern District of California shared a press release confirming that Rowland Marcus Andrade, CEO and Founder of the now-defunct AML Bitcoin token, was guilty of wire fraud and money laundering.

The jury in the trial, which 开始 earlier in March and lasted approximately five weeks, found the defendant responsible for a scheme that defrauded investors of millions in connection with the marketing and sale of the cryptocurrency.

According to documents and evidence presented to the court, Andrade misled the public with incorrect statements about AML Bitcoin, its development, use cases, release date, and more. There was also a claim that the Panama Canal Authority almost permitted the asset as payment for ships passing through the Canal, yet nothing like that was discussed.

Further proof was displayed in the ruling, which noted that the accused had manipulated people who trusted the project out of approximately $10 million. More than $2 million of the funds from the sale were spent on personal expenses, which included two properties in Texas and two luxury cars. The jury also found that funds were laundered through a series of bank accounts for further private spending.

“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 funding his lavish lifestyle.

Today, Andrade learned the price of his greed,” said United States Attorney Craig H. Missakian. “This case emphasizes my Office’s ongoing commitment to prosecuting anyone who undermines the integrity of traditional financial or digital asset markets.”

Along with the prison term, Chief Judge Seeborg also sentenced Andrade to three years of supervised release and ordered him to pay a forfeiture equal to the sum of the funds that were obtained from the deceptive sale.

A hearing is scheduled for September 16th this year, which will be used to determine the total amount of forfeiture and restitution owed to the victims of the accused.

Quick Rundown Of How It Happened

The project originally surfaced around 2014, under the NAC Foundation (LLC), which Rowland Andrade owned. An ICO was launched at the end of 2017 and the beginning of 2018, raising over $5 million.

The token was touted as groundbreaking at the time, allegedly offering built-in AML/KYC compliance, biometric ID verification, and anti-terrorism features.

An SEC and DOJ complaint was logged in 2020, showing that the product did not exist because there was no platform for it. The complaint also found that a previous token, AtenCoin, which was being worked on by Andrade’s team, had failed.

That same year, lobbyist Jack Abramoff and the CEO were indicted, with the former charged with conspiring to mislead investors. He was required to pay $50,000 in disgorgement and interest, having previously promoted the token.

职位 7 Years in Prison for AML Bitcoin Founder and CEO After a Multi-Million-Dollar Fraud 首次出现在 加密土豆.

评论

发表回复

您的邮箱地址不会被公开。 必填项已用 * 标注

最新信息

热门类别

zh_CN 简体中文
zh_CN 简体中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (458) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (74) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (4) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (6) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。