Crypto CEO Pleads Not Guilty To Abramoff-Linked Fraud
Law360 (July 8, 2020, 6:26 PM EDT) — The CEO of a cryptocurrency company pled not guilty in California federal court Wednesday to wire fraud and money laundering for allegedly helping political lobbyist Jack Abramoff defraud investors out of $5.6 million by claiming a new and improved version of bitcoin called AML BitCoin.
During an arraignment before U.S. Magistrate Judge Sallie Kim, Marcus Andrade, the CEO of the Nevada-based National Aten Coin Foundation LLC, or NAC Foundation, appeared via Zoom from his home in Texas. He pled not guilty to the charges and agreed to terms of his release.
Prosecutors charged Andrade in June with wire fraud and money…