SEC Obtains Court Order Against ICO Defrauding Investors of Millions By Cointelegraph


SEC Obtains Court Order Against ICO Defrauding Investors of Millions

The US Securities and Exchange Commission (SEC) has obtained a courter order to halt the activities of an initial coin offering (ICO) that defrauded investors, the SEC announced May 29. According to the SEC press release, Titanium Blockchain Infrastructure Services Inc. has raised $21 mln from investors both in and outside the US.

A complaint from the SEC that was unsealed today alleges that Titanium President Michael Alan Stollery, or “Michael Stollaire”, lied about business relationships with the Federal Reserve and dozens of well known firms such as Boeing (NYSE:), Verizon, PayPal, and Walt Disney.

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