The Securities and Exchange Commission (SEC) filed a complaint against Jeremy Jordan-Jones, Managing Director and one third shareholder of Amalgam.
Amalgam is Delaware LLC with its main business in New York, New York. Amalgama is supposed to be a starting technology company with several supposed business activities, including a supposed payment platform.
Between at least November 2021 and February 2022 (the “relative period”), Jordan-Jones, a self-proclaimed “serial businessman”, made multiple material misleading farms on a business capital platform (“Investor A”) who invested $ 500,000 in Promoting the starting of a blockage based on the platform point and the payment platform called ZE.
Instead of spending investor A’s funds on the start of Zeo, Jordan-Jones who embezzled the sections of funds for the payment of personal expenses that are not related to Amalgam businesses- including payments to a luxury car dealership, department stores, luxury clothes and accessories.
To ensure investor A investment, Jordan-Jones misled for investor A, among other things, that Zeo was operational and that amalgam had a significant positive cash balance, contracts that generates revenue and assets worth more than $ 3 million.
In fact, unlike Jordan-Jones’ performances in investor A, Zeo was not operating and the cash balance of Amalgam was negative, had no contracts that generate revenue and his supposed assets did not exist.
At the end of December 2021 and early January 2022, the investor is a paid $ 500,000 amalgam in return for a Contracting Note that is converted to the company of the company’s limited liability company (“LLC”) or if Amalgam later became a company.
Until February 24, 2022, Jordan-Jones had spent all the Investor A $ 500,000 investment, mainly on expenses not related to the alleged Amalgam business.
The Securities and Exchange Commission blames Jordan-Jones of violations referred to in Article 17 (a) of the 1933 Mobile Values Act (“Law on Mobile Values”) [15 U.S.C. § 77q(a)]Article 10 (b) of the 1934 Mobile Exchange Act (“Exchange Act”) [15 U.S.C. § 78j(b)] and Article 10b-5 there based on [17 C.F.R. § 240.10b-5].
The Commission is seeking a final judgment: (a) Just to violate Jordan-Jones by the violation of federal laws on mobile values and the rules that the complaint claims to have been violated. (si) Ordering Jordan-Jones to retire all the bad profits it received as a result of violations and pay for prejudice there, in accordance with sections 21 (d) (3), 21 (d) (5) and 21 (d) (7) (7) [15 U.S.C. §§ 78u(d)(3), 78u(d)(5), and 78u(d)(7)]; (do) Order of Jordan-Jones to pay political money in accordance with the Law on Mobile Values referred to in Article 20 (d) [15 U.S.C. § 77t(d)] and Article 21 of Exchange Act (d) (3) [15 U.S.C. § 78u(d)(3)]; (Re) Permanently banning Jordan-Jones from serving as an officer or manager of any company with a category of securities registered in accordance with Article 12 of the Exchange Law [15 U.S.C. § 78l] or this is required to submit reports in accordance with Article 15 (d) [15 U.S.C. § 78o(d)]In accordance with the Law on Mobile Values referred to in Article 20 (E) [15 U.S.C. § 77t(e)] and Article 21 of Exchange Act (d) (2) [15 U.S.C. § 78u(d)(2)].