A federal jury in San Francisco returned a guilty verdict on Wednesday afternoon for Rowland Marcus Andrade, the founder and CEO of NAC Foundation LLC, for fraud and money laundering over allegations he stole more than $10 million from investors in connection with a scheme that involved the once prominent lobbyist Jack Abramoff.
And that’s bad news for Andrade, whose wire fraud and money laundering convictions involve fines up to $250,000 and $500,000, respectively, and could put him behind bars for up to two decades.