Two Crypto CEOs Charged in Multi-Million Dollar Fraud Schemes

Federal authorities have charged Jeremy Jordan-Jones, founder of Amalgam Capital Ventures, with orchestrating a $1 million blockchain fraud by falsely promoting his company as a pioneering blockchain startup with fake partnerships and products, while diverting investor funds to finance his lavish lifestyle. Jordan-Jones allegedly submitted falsified financial documents and misrepresented company operations, resulting in charges including wire fraud, securities fraud, and aggravated identity theft, carrying potential decades-long prison sentences. Similarly, Braden John Karony was convicted of securities fraud, wire fraud, and money laundering related to the SafeMoon digital asset, where he and co-conspirators misappropriated millions from investors, leading to a potential 45-year prison sentence and forfeiture of assets. The SEC also filed charges against Ramil Palafox, founder of PGI Global, for orchestrating an international securities fraud scheme involving crypto and Forex trading that secured over $198 million from investors, misappropriating more than $57 million, marking the first crypto enforcement action under new SEC leadership. These cases underscore ongoing federal efforts to combat deceptive practices in the crypto industry and highlight the risks of unverified crypto investments. While unrelated articles mention other crypto figures and events, the core theme centers on fraud and enforcement actions targeting crypto founders and schemes.