$ 22,042.91
$ 1,751.16
$ 1.00
$ 0.474672
$ 0.347728
$ 1.00

Titanium Blockchain Infrastructure Services CEO Pleads Guilty


Michael Alan Stollery has pleaded guilty, after participating in a crypto scheme.

Stollery is CEO of Titanium Blockchain Infrastructure Services, which earned $21 million from investors in an initial coin offering.

He allegedly neglected to register the ICO with the Securities and Exchange Commission despite being obliged to do so, according to the U.S. Justice Department.

Additionally, Stollery confessed to fabricating details of the white papers of the project and adding fake customer reviews to the company’s website.

Furthermore, it was erroneously said that Titanium did business with the Federal Reserve and several well-known corporations.

Investor funds were eventually “co-mingled” into the company’s finances, and part of the money obtained was used to pay Stollery Hawaii condo costs and credit card bills.

The 54-year-old has pleaded guilty to one count of securities fraud, and when he is sentenced on November 18 he may spend up to 20 years behind bars.

Agents warned people who seek to mislead the public in crypto fraud schemes will be brought to justice when charges against Stollery were brought.

Kristi Johnson of the FBI conveyed the following at that time: “Mr Stollery convinced victims to invest by deceiving them with calculated lies about the profit potential and by artfully creating an illusion that he was well-connected and a proven success.”

Because of the widespread fraud connected to decentralized financial ventures, she warned the public to exercise caution.

Also read:

Related News

Ethereum’s Last Test Run Before the Biggest Crypto Event is Over.

The last practice run for Ethereum’s long-awaited update, which has been touted as one of the most significant events in the history of cryptocurrencies, was just completed.  The so-called proof-of-work technique has been used for mining Ethereum since the cryptocurrency was launched about a decade ago. It needs an excessive amount of energy as well as the solving of difficult mathematical problems by an enormous number of competing machines. The

Read More »

More trouble for Coinbase as the US Supreme Court rejects its appeal

The SEC is investigating Coinbase, the largest cryptocurrency exchange in the US, for allegedly listing securities on its platform. The Supreme Court’s denial of the exchange’s plea has caused yet another major problem. According to Bloomberg, the US Supreme Court rejected Coinbase’s request to submit its user disagreement to arbitration right now. It was said that the court’s request for the justices to intervene in the case was rejected. The

Read More »

Hodlnaut Has Become the Latest Crypto Lender Platform to Block Withdrawals

The cryptocurrency lending platform Hodlnaut, which is headquartered in Singapore, has halted withdrawals, token swaps, and deposits, blaming “current market circumstances.” This makes Hodlnaut the latest in a series of cryptocurrency companies to go out of business since May. According to the notice made on Monday, the business also stated that it will revoke its registration with the Monetary Authority of Singapore (MAS) to provide digital token payment services. According

Read More »

My Coins

$ 22,042.916.05%
$ 1,751.165.24%
$ 0.47467212.09%
$ 1.000.05%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

[email protected]

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: [email protected]