Amalgam Founder Charged with Defrauding Investors of Over $1 Million

Jeremy Jordan-Jones, founder of Amalgam Capital Ventures, has been indicted by a US grand jury for allegedly orchestrating a multimillion-dollar fraud scheme centered on a fictitious blockchain startup.

Arrested on 21 May, Jordan-Jones faces charges of wire fraud, securities fraud, false statements to a financial institution, and aggravated identity theft, according to the Department of Justice.

Prosecutors allege he falsely promoted Amalgam as an innovative blockchain firm offering point-of-sale and digital payment solutions—claims that Manhattan US Attorney Jay Clayton described as a “sham” designed to lure investors.

Instead of developing technology or pursuing crypto exchange listings, Jordan-Jones is accused of misusing investor funds to finance a lavish lifestyle, including luxury cars, designer clothing, upscale dining, and vacations in Miami.

FBI Assistant Director Christopher Raia said Jordan-Jones used fabricated documents, fake partnerships, and deceptive claims to solicit more than $1 million from victims between January 2021 and November 2022.

Despite lofty promises, the indictment states that Amalgam had “no functional products, few if any customers, and no genuine business relationships.”

Decades of Prison Time Possible as Charges Stack Against Amalgam Founder

Prosecutors allege that Jordan-Jones submitted a falsified bank statement showing Amalgam Capital Ventures held more than $18 million in order to obtain a company credit card—despite the account having been closed since late 2021 and holding no funds.

The charges against him carry serious penalties: up to 20 years in prison each for wire and securities fraud, up to 30 years for making false statements to a bank, and a mandatory two-year sentence for aggravated identity theft.

Federal authorities are also pursuing the forfeiture of assets linked to the scheme, including substitute property if the original proceeds cannot be recovered.