AML Bitcoin Creator Found Guilty in Pump-Andup Case Linked to ‘Casino Jack’

The Charges Stemmed from An Initial Coin Offering andrade Conducted for AML Bitcoin in 2017 and 2018. Early Court Filings Covered by Coindesk Alled andrade, A TEXas Resident Tokens would Ultimately be converged into a Tradeable Aml Bitcoin Currency – A Cryptocurrency That Never Launted and Was Named to Resemble The Popular Bitcoin Tooken.

The Convision Marks the Conclusion of One of the First and Longest-Running Crypto “Pump-and-Dump” Cases to Involve US Federal ProseCutors.

The Department of Justice Named Famed DC Lobbyist Jack Abramaff a CO-CONSPIRATOR AND HE PLEADED GUILTY IN 2020, Paying More Than $ 50,000 in Disgorgement and Interest. Abramoff is Better Known for His Involvement in a Federal Corruption Scandal That Resulted in His Imprisonment and Was Dented in The Film “Casino Jack.”

A Statement Released by the US Department of Justice Acusted andrade of Divering “More Than $ 2 Million in Proceeds from the Sale of Aml Bitcoin” and Using it “Personal Expenses, Inclat Texas and Two Luxury Automobiles. ”

According to the statement, andrade also falsely claimed that the panama Canal Authority Was Close to Permitting Aml Bitcoin to Be Used For Ships Passing Thouhhhhhhht.

“Fraudsters of Fraudster New and Innovative Technology in Order to Raise Money from Investors. But Raising Money Through Lies and Misrepresentations is Neither New Nor Innovativate Said Acting United States Attorney Patrick D. Robbins. “If You Deceive Investors to Enrich Yourself and Spend their Money On Personal Expenses, Homes, and Property, You Will Be Held To Account.”

Andrade is screduled to be senttenCed in july. According to the doj Press Release, “He Faces A Maximum Penalty of 20 Years in Prison for the Wire Fraud Count and 10 Years in Prison for the Money Laundering Count, and Forfeit. Wire Fraud and Money Laundering Violations Including Property That Andrade Bough In Texas. ”