Marcus Rowland Andrade, founder of a cryptocurrency called Anti-Money Laundering Bitcoin, orchestrated a multimillion-dollar pump-and-dump scheme on investors in 2017, a 12-person San Francisco federal jury decided Wednesday.
Andrade, a Texas businessman who worked with the notorious lobbyist Jack Abramoff to market AML Bitcoin as a safe and reliable payment system, could face decades in prison under the verdict. The jury deliberated for about a day before finding Andrade guilty of one count of wire fraud and one count of money laundering.
Federal prosecutors charged Andrade in the US District Court for the Northern District of California with money laundering ...
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