No Product. No Partnerships. No Customers: How A Smooth-Talking Crypto Founder Bamboozled Executives And Investors

Jordan-Jones declined an interview request. In response to a detailed list of questions, he replied, “Unfortunately, a majority of these details are either completely false, or are missing major/substantial context" without elaborating further. He did not respond to an additional request for comment about a newf you’d like to see exactly how seriously we take allegations of fraud, I implore you to sue us.

Chavez had been impressed, according to the complaint, by Jordan-Jones’ success story until then. The entrepreneur had joined an “exploratory board” for JP Morgan’s “JPM Coin” in February 2020, according to a presentation Chavez saw and that his lawyers included as an exhibit in the complaint. Amalgam’s payments platform Zeo worked with 14,000 businesses, the deck claimed; its cybersecurity platform, KNOX, had been selected for a contract with the U.S. Department of Defense.

UBE’s coin missed its launch targets. In September 2021, Jordan-Jones and Chavez signed a settlement by which Jordan-Jones would send Chavez $180,000 by October 4 of that year, an updated launch date. In exchange, Chavez would agree not to trade his promised UBE tokens for 30 days after launch. UBE didn’t launch then, and Jordan-Jones never wired back any money, according to the complaint.

It noted that Jordan-Jones had been a part of three startup acquisitions in the past by the likes of Anheuser-Busch, Procter & Gamble and LendingTree. And it detailed a “finalizing” partnership with the Warriors to launch a token with them that would generate $28.7 million in first-year revenue, part of $196 million in projected overall gross revenue on payments volume of $1.5 billion.

Either some rich people are 'not so smart' or their dedication to a Scocialist, Leftist blinded their 'good sense'.

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