The founder of Titanium Blockchain pleaded guilty to fraud – Bits Media

The US Department of Justice has announced, that the founder and general director of Titanium Blockchain Infrastructure Services pleaded guilty to the fraudulent ICO $21 million.

Michael Stolleri (Michael Stollery), They say in the Ministry of Justice, called his scheme "cryptocurrency investment opportunity" and lured investors with various false statements and reports. Within the framework of the ICO, he sold Bar tokens.

Stolleri pleaded guilty in one case of fraud with securities. He also recognized, that I used the funds of investors for fees for credit card accounts and for condominium in Hawaii. The businessman also recognized, that "exaggerated the potential profitability" of tokens, forged statements by other customers, assuring, that there is a partnership with various famous companies and the US Federal Reserve.

The trial of Michael Stulleri should take place 18 November. The maximum term of conclusion may be up to 20 years old.

Earlier in the organization of illegal cryptocurrency exchanger, he admitted
resident of North Carolina Jayton Jill (Jayton Gill).