Feds charge Amalgam founder with stealing $1M via ‘sham’ blockchain
22 Mai 2025 - 7:51AM
Cointelegraph
A US grand jury has indicted the founder of blockchain startup
Amalgam Capital Ventures over allegations he defrauded investors
out of over $1 million with a fake blockchain.
Jeremy Jordan-Jones was arrested and indicted on May 21 and
charged with wire fraud, securities fraud, making false statements
to a bank, and aggravated identity theft, the Department of Justice
said on May 21.
Manhattan US Attorney Jay Clayton claimed Jordan-Jones “touted
his company as a groundbreaking blockchain startup,” but alleged
that, in reality, the “company was a sham, and investors’ funds
were siphoned off to bankroll his lavish lifestyle.”
FBI Assistant Director Christopher Raia alleged that
Jordan-Jones defrauded investors of more than 1 million dollars
through “misrepresentations of his purported company's
capabilities, partnerships, and investment intentions.”
Raia claimed the Amalgam founder’s “blatant lies” funded his
personal lifestyle at the expense of unknowing victims.
An
excerpt from the indictment of Jeremy Jordan-Jones. Source:
US
Department of Justice
According to an indictment filed in a Manhattan federal court,
from January 2021 to November 2022, Jordan-Jones deceived investors
and financial institutions using fabricated documents, fake sports
partnerships, and misleading claims, ultimately misappropriating
over $1 million for personal use.
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Amalgam claimed to offer point-of-sale systems and
blockchain-based payment and security solutions, the filing
states.
The indictment alleged the firm had “no operable products, few,
if any, customers, and zero legitimate business partnerships.”
The filing alleged that instead of channeling the funds into
tech development and crypto exchange listings as promised,
Jordan-Jones spent the money on luxury vehicles, high-end
vacations, clothing and fancy restaurants in Miami.
Charges carry decades in prison
Jordan-Jones was also accused of submitting a fake bank
statement claiming Amalgam held over $18 million in order to secure
a company credit card, but prosecutors claimed there were no funds
in the bank account and it had been closed in late 2021.
Wire fraud and security fraud carry potential
penalties of up to 20 years in prison per count, while making false
statements to a bank carries up to 30 years.
Jordan-Jones was also charged with one count of aggravated
identity theft, which carries a mandatory sentence
of two years in prison.
The government is seeking forfeiture of any property or money
traceable to the fraud, including substitute assets if the original
funds are unavailable.
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