Michael Alan Stollery, the CEO and founder of Titanium Blockchain Infrastructure Services Inc., has been sentenced to four years and three months in prison in connection with a cryptocurrency fraud scheme, the Justice Department said.
Stollery was found to have misled investors to get them to buy “BARs,” the cryptocurrency token or coin offered by TBIS’s initial coin offering, raising $21 million from investors, the department announced Friday.
He also failed to register the ICO regarding TBIS’s cryptocurrency investment offering with the US Securities and Exchange Commission and was found to have commingled the ICO investors’ funds with his ...
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