From Blockchain Star to Fraud Accused: One Million Dollars to Buy a Fake Luxurious Life

Washington – The founder of 'Amalgam Capital Ventures' has fallen into the hands of justice, after transitioning from an alleged pioneer in the blockchain world to an accused of financial fraud and identity theft, in one of the most sensational tech fraud cases this year.

The U.S. Department of Justice announced on Tuesday the filing of an official indictment against Jeremy Jordan-Jones, the founder of the company, which includes electronic fraud, securities fraud, providing false information to a financial institution, and aggravated identity theft, following his embezzlement of more than one million dollars from investors' funds.

According to the U.S. Attorney in Manhattan, Jordan-Jones promoted his startup as a revolution in payment and security technologies via blockchain, while it possessed no real product, no customer base, or even existing partnerships. He added that 'the project was a fake front, used to raise funds and finance an extravagant lifestyle.'

The indictment stated that Jordan-Jones, between January 2021 and November 2022, used forged documents, claimed major sports partnerships, and presented a fabricated bank statement showing that his company had 18 million dollars, while the account had been closed since the end of 2021.