Jeremy Jordan-Jones, founder of blockchain startup Amalgam Capital Ventures, was indicted by a US grand jury for allegedly defrauding investors of over $1 million with a fraudulent blockchain scheme. Arrested on May 21, he faces charges including wire fraud, securities fraud, false statements to a bank, and aggravated identity theft. According to Manhattan US Attorney Jay Clayton, Jordan-Jones falsely promoted his company as an innovative blockchain startup while siphoning off investor funds to support a luxurious lifestyle. The FBI claims he misrepresented Amalgam's capabilities and partnerships, ultimately leading to significant financial losses for investors. The indictment reveals that between January 2021 and November 2022, he used fabricated documents and fake partnerships to deceive investment and financial institutions. Instead of investing in technology development, he allegedly spent the misappropriated funds on luxury cars, vacations, and upscale dining in Miami. Each charge carries severe penalties, with potential prison terms totaling decades and the government seeking forfeiture of assets linked to the fraud.

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