FBI Calls on AML Bitcoin Scam Victims to File Claims by June 5

The Federal Bureau of Investigation (FBI) San Francisco Field Office, in collaboration with the U.S. Attorneys Office for the Northern District of California, has issued a public notice urging victims of the AML Bitcoin cryptocurrency fraud scheme to submit claims for restitution no later than June 5, 2025. The appeal follows the sentencing of Rowland Marcus Andrade, founder of the NAC Foundation, who was convicted of wire fraud and money laundering linked to a deceptive digital asset project promoted between 2014 and 2019.

According to U.S. authorities, Andrade falsely marketed AML Bitcoin as a blockchain-based token embedded with anti-money laundering (AML) features that were never operational. Through misleading statements and fraudulent promotional campaigns, the scheme attracted millions in investments under the guise of regulatory compliance and innovative technology.

During the height of the scam, Andrade and his associates used multiple entities, including the NAC Foundation, to raise funds. Investors were promised a revolutionary coin that complied with government standards, complete with AML tracking capabilities. However, the token failed to deliver any such functionality. The FBI investigation revealed that much of the funds were diverted for personal use or to sustain the illusion of a functioning enterprise. Some of the marketing efforts included partnerships with athletes and media coverage that boosted the projects credibility—none of which were supported by real technological development.

Federal court documents also indicate that the fraud extended beyond AML Bitcoin, encompassing other fictitious crypto products, including Black Gold Coin. The total amount involved in the scheme is estimated to be in the tens of millions of dollars.

Now that Andrade has been convicted, the U.S. government is facilitating a restitution process under the Mandatory Victims Restitution Act. Eligible individuals must complete the required claim form, which collects information about financial losses and contact details. Claims submitted after the June 5 deadline will not be considered.

In its official statement, the FBI called on the public and media outlets to help disseminate this information to ensure all affected individuals are informed of their rights. The agencies emphasize that compensation may be available not only to direct investors but also to those indirectly impacted by the fraudulent project.