Amalgam Founder Charged With Running ‘Sham Blockchain’, Taking $1M From Investors

Jeremy Jordan-Jones lied to investors astir Amalgam’s purported partnerships with sports teams including the Golden State Warriors, according to prosecutors.

May 21, 2025, 8:22 p.m.

Prosecutors person charged Jeremy Jordan-Jones, the self-styled laminitis of a now-defunct crypto startup called Amalgam, with fraud, alleging that helium swindled investors successful his “sham blockchain” of much than $1 million, utilizing the wealth to money a lavish lifestyle.

According to prosecutors, Jordan-Jones painted Amalgam arsenic a tech institution that created blockchain-based point-of-sale outgo systems, which helium claimed had multi-million-dollar partnerships with sports teams including the Golden State Warriors and a nonrecreational shot squad successful England’s Premier League, arsenic good arsenic a large edifice conglomerate with much than 500 restaurants. None of these partnerships existed, prosecutors said. Jordan-Jones besides allegedly solicited investments from would-be investors by telling them the wealth would beryllium utilized to facilitate the listing of Amalgam’s non-existent crypto token connected a crypto exchange.

While allegedly spinning stories for investors — including a task superior firm, identified successful a 2022 Forbes article arsenic Brown Venture Group — prosecutors accidental Jordan-Jones was blowing their wealth connected a luxurious manner for himself, including “hotels and restaurants successful Miami,” car payments, and decorator clothing.

“Jordan-Jones, capitalizing connected the publicity astir blockchain technology, perpetrated a brazen strategy to defraud investors,” said U.S. Attorney Jay Clayton successful a Tuesday property announcement. “He touted his institution arsenic a groundbreaking blockchain startup, backed by high-profile partnerships. In reality, Jordan-Jones’s institution was a sham, and investors’ funds were siphoned disconnected to bankroll his lavish lifestyle. This should beryllium an illustration to would-be fiscal fraudsters that the women and men of the Southern District and the FBI are watching and to the investing nationalist that fraudsters often usage the committedness of caller exertion to cloak their schemes.”

Additionally, prosecutors person accused Jordan-Jones of providing falsified documents to a fiscal institution, which helium utilized to fraudulently get a firm recognition card, moving up a $350,000 equilibrium earlier the slope closed his account.

Jordan-Jones has been charged with 1 number each of ligament fraud, securities fraud, making mendacious statements to a fiscal instauration and aggravated individuality theft — charges which transportation a combined maximum condemnation of 82 years successful prison. The aggravated individuality theft complaint carries a mandatory minimum condemnation of 2 years.

Cheyenne Ligon