Fake Blockchain Startup Founder Indicted for Wire, Securities Fraud

Jeremy Jordan-Jones, the self-proclaimed founder of Amalgam Blockchain, faces federal charges including wire fraud, securities fraud, and aggravated identity theft. Prosecutors allege he operated a sham blockchain venture from 2021 to 2022, misleading investors and diverting funds for personal use.

The U.S. Department of Justice unsealed the indictment on May 21, revealing a pattern of false claims about Amalgam’s technology and market potential. Jordan-Jones allegedly fabricated partnerships and misrepresented the company’s financial position to secure millions in investments.

Blockchain industry observers note the case highlights ongoing challenges with fraudulent actors in the crypto space, particularly during periods of heightened market interest. The charges carry significant penalties, reflecting increased regulatory scrutiny of digital asset ventures.