Jeremy Jordan-Jones, the founder of Amalgam Capital Ventures, has been indicted by a US grand jury for allegedly defrauding investors of over $1 million through a fake blockchain scheme. The Department of Justice charged him with wire fraud, securities fraud, making false statements to a bank, and aggravated identity theft. Manhattan US Attorney Jay Clayton stated that Jordan-Jones misrepresented his company as a groundbreaking blockchain startup, while in reality, it was a sham used to fund his lavish lifestyle. The FBI accused him of deceiving investors with false claims and fabricated documents, misappropriating funds for personal use. Instead of developing promised tech products, Amalgam allegedly spent money on luxury items. Jordan-Jones faces up to 20 years in prison for wire and securities fraud, and 30 years for false statements to a bank. The government seeks forfeiture of fraudulently obtained assets. Read more AI-generated news on: https://app.chaingpt.org/news