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: <a