So, get this: a US grand jury has decided to throw the book at the founder of Amalgam Capital Ventures. Why? Because he allegedly swindled investors out of over a million bucks with a blockchain that was about as real as my Aunt Edna’s lasagna recipe! 🍝
Jeremy Jordan-Jones, the mastermind behind this whole charade, was arrested on May 21. He’s facing charges for wire fraud, securities fraud, making false statements to a bank, and aggravated identity theft. I mean, come on! How many crimes can one guy commit? It’s like he was trying to win a gold medal in fraud! 🥇
Manhattan US Attorney Jay Clayton had the audacity to say that Jordan-Jones “touted his company as a groundbreaking blockchain startup.” Groundbreaking? More like groundless! The guy was living the high life while investors were left holding the bag. Talk about a classic case of “you snooze, you lose!”
FBI Assistant Director Christopher Raia chimed in, claiming that Jordan-Jones defrauded investors through “misrepresentations of his purported company’s capabilities.” In other words, he was selling snake oil in a tech suit! 🐍
According to the indictment, from January 2021 to November 2022, this guy was pulling the wool over everyone’s eyes with fake documents and imaginary sports partnerships. Over a million dollars gone, just like that! Poof! 💨
Amalgam claimed to offer point-of-sale systems and blockchain-based payment solutions. But the indictment says they had “no operable products, few, if any, customers, and zero legitimate business partnerships.” Sounds like a real winner, huh? 🙄
Instead of investing in tech, Jordan-Jones decided to splurge on luxury cars, fancy vacations, and high-end restaurants in Miami. Because why not? Who needs ethics when you can have a nice steak dinner? 🥩
Charges that could land him in prison for decades
Oh, and let’s not forget: he submitted a fake bank statement claiming Amalgam had over $18 million to get a company credit card. Spoiler alert: there were no funds! The account was closed! Classic move! 🤦♂️
Wire fraud and securities fraud could land him up to 20 years in prison per count. And making false statements to a bank? That’s a potential 30 years! Talk about a long vacation! 🏖️
And let’s not forget the aggravated identity theft charge, which comes with a mandatory two-year sentence. The government is also looking to seize any property or money linked to this fraud. Good luck with that! 💰
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2025-05-22 09:09