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Titanium Blockchain CEO Pleads Guilty to $21 Million ICO Scam

The US Department of Justice announced on Monday that Michael Alan Stollery, the CEO and Founder of the $21 million initial coin offering (ICO) scam of Titanium Blockchain Infrastructure Services pled guilty to his crime.
The Titanium ICO defrauded investors in both the United States and overseas until the SEC stopped the offering with a court order in May 2018.
The authority highlighted that Titanium ICO neither have any authorization from the Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States.
Stollery further admitted that he falsified the aspects of Titanium ICO’s whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution.
The ICO BustThe ICO market peaked in 2017 but now has almost vanished.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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