Rowland Marcus Andrade
Founder and CEO of NAC Foundation, the company behind 'AML Bitcoin.' A jury convicted him of wire fraud and money laundering in 2025 over a ~$10M scheme; he was sentenced to 84 months (seven years) in prison.
Also known as: Marcus Andrade, Rowland Marcus Andrade
Bio
Rowland Marcus Andrade, of Texas, founded and led NAC Foundation (the National AtenCoin Foundation), which marketed "AML Bitcoin" as an anti-money-laundering cryptocurrency using biometric technology. The DOJ said that from 2014 to 2019 he raised about $10 million through false claims about the technology, its viability, and purported deals — including a fabricated arrangement with the Panama Canal Authority — and diverted more than $2 million to personal expenses. [1][2]
Legal outcome
After a five-week trial, a San Francisco jury convicted Andrade of wire fraud and money laundering in March 2025. In July 2025 he was sentenced to 84 months in federal prison plus three years of supervised release. (Lobbyist Jack Abramoff had earlier pleaded guilty over his role promoting AML Bitcoin.) [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Dropil (DROP)TokensAn ICO for the DROP token built around a fake 'Dex' trading bot. The SEC said it raised ~$1.9M while claiming $54M from 34,000 investors, and that the founders falsified evidence during the probe. Founders Jeremy McAlpine and Zachary Matar pleaded guilty to securities fraud (36 and 30 months).
- CluCoin (CLU)Tokens
This page was last updated on Jun 8, 2026. View revision history.