CoinDesk 2025-05-21 20:22:23

Amalgam Founder Charged With Running ‘Sham Blockchain’, Taking $1M From Investors

Prosecutors have charged Jeremy Jordan-Jones, the self-styled founder of a now-defunct crypto startup called Amalgam, with fraud, alleging that he swindled investors in his “sham blockchain” of more than $1 million, using the money to fund a lavish lifestyle. According to prosecutors, Jordan-Jones painted Amalgam as a tech company that created blockchain-based point-of-sale payment systems, which he claimed had multi-million-dollar partnerships with sports teams including the Golden State Warriors and a professional soccer team in England’s Premier League, as well as a big restaurant conglomerate with more than 500 restaurants. None of these partnerships existed, prosecutors said. Jordan-Jones also allegedly solicited investments from would-be investors by telling them the money would be used to facilitate the listing of Amalgam’s non-existent crypto token on a crypto exchange. While allegedly spinning stories for investors — including a venture capital firm, identified in a 2022 Forbes article as Brown Venture Group — prosecutors say Jordan-Jones was blowing their money on a luxurious lifestyle for himself, including “hotels and restaurants in Miami,” car payments, and designer clothing. “Jordan-Jones, capitalizing on the publicity around blockchain technology, perpetrated a brazen scheme to defraud investors,” said U.S. Attorney Jay Clayton in a Tuesday press announcement. “He touted his company as a groundbreaking blockchain startup, backed by high-profile partnerships. In reality, Jordan-Jones’s company was a sham, and investors’ funds were siphoned off to bankroll his lavish lifestyle. This should be an example to would-be financial fraudsters that the women and men of the Southern District and the FBI are watching and to the investing public that fraudsters often use the promise of new technology to cloak their schemes.” Additionally, prosecutors have accused Jordan-Jones of providing falsified documents to a financial institution, which he used to fraudulently obtain a corporate credit card, running up a $350,000 balance before the bank closed his account. Jordan-Jones has been charged with one count each of wire fraud, securities fraud, making false statements to a financial institution and aggravated identity theft — charges which carry a combined maximum sentence of 82 years in prison. The aggravated identity theft charge carries a mandatory minimum sentence of two years.

La maggior parte ha letto le notizie

Bitcoin Bulls Take the Lead as Buyers Dominat...
2025-05-23
Bybit Launches Global P2P School to Advance P...
2025-05-23
Cetus Protocol offers a white hat deal in exc...
2025-05-23
Kraken Taps Solana Blockchain To Roll Out Tok...
2025-05-23
Kraken Introduces Tokenized Apple and Tesla S...
2025-05-23
TRUMP: Proposes 50% Tariff to EUROPEAN UNION...
2025-05-23
Meta AI Powers Up with Massive 650 MW Solar D...
2025-05-23
FIFA Partners with Avalanche to Launch Dedica...
2025-05-23

Notizie correlate

Cardano Founder Calls It Early as US Banks Plot Ne...
23 May 2025
European Stocks Plummet as Trump Proposes 50% Tari...
23 May 2025
CZ refutes claims in latest WSJ article on Trump-l...
23 May 2025
Cardano’s Hoskinson Shares Optimistic Outlook for...
23 May 2025
Trump Proposes 50% Tariff on EU Products Amidst Tr...
23 May 2025
火币HTX携手HTX DAO共庆比特币披萨节，开启Web3全球化...
23 May 2025

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta