Amalgam Founder Charged With Fraud for $1 Million Investor Scam
Jeremy Jordan-Jones, founder of the now-defunct crypto startup Amalgam, has been charged with fraud after allegedly swindling investors out of over $1 million. Key points include:
- Jordan-Jones misrepresented Amalgam as a tech company with partnerships involving major sports teams and restaurants, which were non-existent.
- He solicited investments under false pretenses for a crypto token listing that never occurred.
- Prosecutors claim he used investor funds to finance a lavish lifestyle including luxury hotels, car payments, and designer clothes.
- Jordan-Jones allegedly provided falsified documents to obtain a corporate credit card, accruing a $350,000 balance before closure.
- Charges include wire fraud, securities fraud, false statements to a financial institution, and aggravated identity theft, with a maximum sentence of 82 years.
U.S. Attorney Jay Clayton emphasized the fraudulent nature of Jordan-Jones's claims, aiming to deter future financial crimes.