Well, folks, gather ’round! The founder of a cryptocurrency exchange, which sounds as trustworthy as a used car salesman, was found guilty of wire fraud and money laundering in a California court! Who would’ve thought? 🙄
In a trial that could only be described as a circus, on March 12, the jury decided that Rowland Marcus Andrade, the mastermind behind AML Bitcoin (which, ironically, stands for Anti-Money Laundering, but we all know it was more like “Ain’t My Loot”), was guilty of two felony counts. This guy was pulling the wool over investors’ eyes like a magician at a kid’s birthday party! 🎩✨
Authorities had their eyes on Andrade since June 2020, when they decided to throw the book at him, right alongside a civil case from the SEC. You know, the folks who keep an eye on the money games. They were like, “Hey, this guy is up to no good!”
Linda Nguyen, the IRS Special Agent in Charge, said it best: “Mr. Andrade’s outrageous lies lured and scammed individuals into investing their hard-earned money into a new cryptocurrency with fabricated features.” Sounds like he was selling ice to Eskimos! 🥶💸
And let’s not forget the SEC’s civil case, which had a cameo from political lobbyist Jack Abramoff. This guy has more scandals than a soap opera! He served four years in prison for mail fraud and conspiracy. Talk about a plot twist! 📺
Now, the NAC Foundation claimed that AML Bitcoin would launch a cryptocurrency that would comply with money laundering and KYC regulations. Spoiler alert: it never did! Andrade was just playing Monopoly with real money, diverting over $2 million into his own pockets for fancy cars and swanky real estate. 🚗💎
Andrade even had the audacity to claim that the Panama Canal Authority was about to let AML Bitcoin sail through! But guess what? No such agreement existed! It’s like saying you have a pet unicorn! 🦄
Now, this crypto con artist is set to return to court for sentencing on July 22. He’s been living the high life on a $75,000 bond since 2020, but he could be looking at 20 years in prison for wire fraud and 10 for money laundering. Let’s hope he enjoys his new home—cell block C! 🏢🔒
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2025-03-13 23:18