A US grand jury has indicted Jeremy Jordan – Jones, the founder of blockchain startup Amalgam Capital Ventures, on May 21, 2025. He is charged with wire fraud, securities fraud, making false statements to a bank, and aggravated identity theft.
It is alleged that Jordan – Jones defrauded investors of over $1 million with a fake blockchain. He touted his company as a groundbreaking blockchain startup, but in reality, the company was a sham, and investors’ funds were used to finance his lavish lifestyle. From January 2021 to November 2022, he deceived investors and financial institutions using fabricated documents, fake sports partnerships, and misleading claims, and misappropriated over $1 million for personal use. The indictment alleged that the firm had no operable products, few customers, and zero legitimate business partnerships. Instead of using the funds for tech development and crypto exchange listings as promised, he spent the money on luxury vehicles, high – end vacations, clothing, and fancy restaurants in Miami.
Jordan – Jones was also accused of submitting a fake bank statement claiming Amalgam held over $18 million to secure a company credit card, but prosecutors claimed there were no funds in the bank account and it had been closed in late 2021. Wire fraud and securities fraud carry potential penalties of up to 20 years in prison per count, making false statements to a bank carries up to 30 years, and aggravated identity theft carries a mandatory sentence of two years in prison. The government is seeking forfeiture of any property or money traceable to the fraud, including substitute assets if the original funds are unavailable.
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