INSUBCONTINENT EXCLUSIVE:
A US grand jury has indicted the founder of blockchain startup Amalgam Capital Ventures over allegations he defrauded investors out of over
$1 million with a fake blockchain.Jeremy Jordan-Jones was arrested and indicted on May 21 and charged with wire fraud, securities fraud,
unknowing victims.An excerpt from the indictment of Jeremy Jordan-Jones
Source: US Department of JusticeAccording to an indictment filed in a Manhattan federal court, from January 2021 to November 2022,
Jordan-Jones deceived investors and financial institutions using fabricated documents, fake sports partnerships, and misleading claims,
ultimately misappropriating over $1 million for personal use.Related: Ex-Cred execs plead guilty to wire fraud over $150M crypto
collapseAmalgam claimed to offer point-of-sale systems and blockchain-based payment and security solutions, the filing states.The indictment
instead of channeling the funds into tech development and crypto exchange listings as promised, Jordan-Jones spent the money on luxury
claiming Amalgam held over $18 million in order to secure a company credit card, but prosecutors claimed there were no funds in the bank
while making false statements to a bank carries up to 30 years.Jordan-Jones was also charged with one count of aggravated identity theft,
which carries a mandatory sentence of two years in prison.The government is seeking forfeiture of any property or money traceable to the
