CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinTelegraph 2025-05-22 05:51:49

Feds charge Amalgam founder with stealing $1M via ‘sham’ blockchain

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. Related: Ex-Cred execs plead guilty to wire fraud over $150M crypto collapse 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. Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约