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Jeremy Jordan-Jonesfounder Amalgam Capital Ventures, is charged with fraud after US authorities accused him of cheating on investors of giving him more than $ 1 million for a fake blockchain project.
He was accused and arrested on May 21 After the Ministry of Justice (DOJ) and the Federal Investigation Office (FBI) completed the investigation.
According to court documentsJordan-Jones led the scheme between January 2021 and November 2022. During that time, he claimed that his company worked on new tools for payment and sales systems based in Blockchain.
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He also said the investors said that Amalgam founded partnerships, including sports groups, and that the company would soon be listed on cryptocurrency exchanges. However, prosecutors say these claims were false.
Officials said Amalgam had No work products, there are almost no customers and have not formed any real partnerships. Still, investors have taken them to believe that the job is growing. Jordan-Jones allegedly used these lies to convince people to hand over money, which he then spent on personal expenses instead of business development.
The charges also say he created false financial records to support his claims. In one example, he submitted a bank report that showed more than $ 18 million on Amalgam’s account to apply for a company’s credit card.
Jordan-Jones is confronted with several charges including wire fraud, fraud of securities, giving false statements to the bank and theft of identity. He accuses the scam of having penalties up to 20 years in prison. Bank lying fees could lead to 30 years. The identity theft fee has a compulsory two -year sentence if convicted.
On May 20th, the Securities Commission (SEC) filed a lawsuit against Unicoin, a crypto investment company and three of its senior executives. What happened? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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