Internet reports that U.S. prosecutors have accused Jeremy Jordan-Jones, the "founder" of crypto startup Amalgam, of committing fraud, saying he "operated a fake blockchain" that defrauded investors of more than $1 million and "used the money to live a luxurious life." Prosecutors said he "falsely promoted multimillion-dollar partnerships with the Golden State Warriors, a Premier League team and a catering group with more than 500 restaurants," but "these partnerships did not exist." He also "falsely claimed that the funds were raised to promote an online exchange of crypto tokens that does not exist in Amalgam." He "squandered investors 'money on hotels and restaurants, car payments and designer clothing in Miami," the indictment alleges. Jordan-Jones is charged with one count of wire fraud, one count of securities fraud, one count of making a false statement to a financial institution and one count of aggravated identity theft, carrying a total maximum sentence of 82 years in prison.