Summary
- "Cryptocurrency entrepreneur Rowland Marcus Andrade has been found guilty of wire fraud and money laundering charges related to the sale of AML Bitcoin tokens."
- "He was accused of making false and misleading statements to ICO investors in 2017 and 2018."
- "It was revealed that he used more than $2 million in sales proceeds for purchasing real estate and cars."
A federal jury in the US District Court for the Northern District of California has found cryptocurrency entrepreneur Rowland Marcus Andrade guilty of wire fraud and money laundering charges related to the sale of AML Bitcoin (BTC) tokens.
According to cryptocurrency media Coindesk on the 13th (local time), he is accused of making false and misleading investment statements to ICO (Initial Coin Offering) investors in 2017 and 2018.
It was also revealed that he used more than $2 million in proceeds from AML Bitcoin sales to purchase real estate, cars, and other items.
Previously in 2018, he claimed that AML Bitcoin was the world's only patent-pending digital currency with anti-money laundering (AML), Know Your Customer (KYC), anti-terrorism, and anti-theft features.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
