Amalgam Capital Ventures LLC’s co-founder Jeremy Jordan-Jones spent some of an investor’s $500,000 on a luxury items like clothes and accessories unrelated to the purported cryptocurrency startup’s business, the Securities and Exchange Commission said in a complaint.
Neither Jordan-Jones nor Amalgam spent any of the funds on computer hardware or software or licensing fees as stated in a slide deck shared with the venture capital firm, said the SEC’s complaint filed in the US District Court for the Southern District of New York on Wednesday. By Feb. 24, 2022, Jordan-Jones had spent all of the investment on himself and to ...
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