Roland Marcus Andradi, founder of AML Bitcoin Cryptocurrency, was convicted of fraud and money laundering in relation to marketing and the sale of fraudulent currency. The ruling comes after the trial of a five -week jurisdiction in the North California Provincial Court.
Andradi made false claims during his efforts to raise funds for the currency in 2017 and 2018. Among the wrong demands made about the currency is that AML Bitcoin was technologically superior to Bitcoin and that the Panama Channel authority was close to allowing ships using AML Bitcoin to pay fees. Aml Bitcoin has not been launched.
Use Andrade “outrageous lies” to commit fraud
Evidence in the trial showed that Andradi used more than two million dollars for personal purposes, including the purchase of property and luxury cars after “laundering the investor’s money through various bank accounts”.
“The Endardi’s outrageous lies attracted individuals and deception in investing their hard -in -self -acquired money in a new encrypted currency with fabricated features. But there is nothing advanced about this plan. Roland Marcus Andradi stole money from innocents and used it to enhance his personal wealth. He said In a statement.
Andradi will be judged in July. He faces up to 20 years of prison on charges of fraud and 10 years in exchange for money laundering. In addition, he will lose the property that he got incorrectly.
The Securities and Stock Exchange accused Andradi of fraud and violations of securities
The US Securities and Stock Exchange Committee (SEC) filed a civil lawsuit simultaneously against Andradi in the same court for unregistered securities sales. This case remained in 2021 pending the completion of the criminal case.
The Securities and Stock Exchange Authority accused the NAC Foundation, which is the exporter of AML Bitcoin, along with Andrade and the pressure of political pressure groups, Jack Abramoff, with a collection of $ 5.6 million from 2400 investors. In 2020 FeesAnd Andradi was allegedly using $ 1.1 million for personal purposes. Abramov seems to be a Landdy colleague in the alleged currency case.
Andradi and Abramov were accused of violating anti -securities registration laws. Abramov was also accused of violations of the broker. Abramov Agreed To acknowledge guilt in this issue in the agreement to acknowledge guilt. He paid more than $ 50,000 in the defect.
Abramov is familiar to many, as Republican pressure was imprisoned later due to corruption. He spent four years of a six -year prison sentence. The Jack Casino Film was dependent on it.
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