Cancer Diagnosis Helps Keep Jack Abramoff Out of Prison for 'AML Bitcoin' Fraud Scheme
Former lobbyist Jack Abramoff was sentenced to three years of federal probation for his involvement in a scheme tied to a project called AML Bitcoin.
Abramoff has also been ordered to pay $2.2 million in restitution to victims of the scheme. Abramoff is most famously known outside the crypto industry for his conviction in a 2006 tribal casino lobbying scandal, for which he served four years in prison.
The judge explained that he was not sentencing Abramoff to serve more prison time because of his early guilty plea, testimony against AML Bitcoin CEO Marcus Andrade, and an aggressive cancer diagnosis.
“There’s very little prospect of reoffending here,” Federal Judge Richard Seeborg said during the hearing.
The pair are said to have spent money raised through selling tokens related to the project on personal expenses, including two properties in Texas. They also falsely claimed that AML Bitcoin had contracts pending with government agencies that wanted to adopt its technology.
Federal prosecutors said Andrade claimed the project’s technology would prevent money laundering and anonymous use through “biometric technologies.”
According to the Department of Justice, Abramoff and Andrade falsely claimed that a commercial for the project was going to air during the 2018 Super Bowl broadcast, but then they claimed it had been rejected by the network.
“In fact, as Abramoff and Andrade knew, the NAC Foundation did not have the funds to purchase the advertising time, did not intend to air the television commercial, and the advertisement was not reviewed or rejected by the television network or the NFL,” the DOJ said in a statement at the time.
But Abramoff and Andrade still used op-ed articles, social media, and AML Bitcoin press releases to claim they’d been victims of the network’s unfair rejection of their ad.
Andrade was sentenced in July to serve seven years in prison.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MMT Token Experiences Dramatic Fluctuations Amid Shifting Blockchain Regulations and Changing Investor Trends
- Melania Meme Token (MMT) surged to $13.73 in 2025 before collapsing 99% to $0.1004, exposing risks of speculative memecoins. - Centralized control (89% supply in one wallet) and a fraud lawsuit triggered trust erosion amid regulatory scrutiny. - Contrasting XRP ETF launches and Ripple's $500M raise highlighted institutional preference for compliant, transparent tokens. - FOMO-driven retail frenzy and social media sentiment amplified MMT's volatility, underscoring crypto's psychological dynamics. - The ca
Solana News Update: SEC's Crypto ETF Disagreement: Bitcoin Sees $1.6B Outflow, Solana Attracts $26M
- SEC's regulatory decisions drive divergent crypto ETF flows: Bitcoin ETFs lost $1.6B while Solana ETFs gained $26.2M in November 2025. - Traditional firms like Qualigen (now AIxCrypto) and Coincheck pivot to blockchain, signaling growing institutional adoption of decentralized technologies. - South Korea's Dunamu saw 300% Q3 profit growth linked to U.S. crypto regulatory progress, while Harvard invested $442M in Bitcoin ETFs. - SEC's focus on utility-driven crypto projects may accelerate ETF approvals fo
Hyperliquid News Today: Phantom Brings Chains Together, Simplifying Crypto with HyperEVM
- Phantom Wallet integrates Hyperliquid's HyperEVM blockchain, enhancing cross-chain interoperability for crypto users. - Users can now manage HyperEVM assets, trade, and access liquidity directly within Phantom, reducing multi-wallet complexity. - Hyperliquid's $10.6B market cap and high-performance trading features position it as a key player in decentralized derivatives markets. - The integration aligns with industry trends toward simplifying multi-chain interactions, potentially accelerating mainstream
Bitcoin Updates: Turning Point or Opportunity? Recent STH Bitcoin Sales Signal Upcoming Bull Market Rebound
- Bitcoin's recent price drop below $100,000 triggered mass capitulation as short-term holders (STHs) dumped 148,000 BTC at a loss in 48 hours. - Institutional outflows worsened the sell-off, with $866.7M in Bitcoin ETF redemptions on Nov 13, led by Grayscale and BlackRock . - Long-term holders sold 815,000 BTC since Jan 2024, but whale wallets absorbed 45,000 BTC weekly, signaling potential market rebalancing. - Technical indicators show Bitcoin testing $94,000 support, with STH selling risks pushing pric
Trending news
MoreCrypto prices
More
