The CEO of Titanium Blockchain Infrastructure Services Inc. (TBIS) has pleaded guilty to involvement in a $21 million cryptocurrency fraud scheme, according to the Department of Justice. In a news release on Monday, DOJ said the CEO, Michael Alan Stollery, pleaded guilty to one count of securities fraud. According to court documents, Stollery touted his crypto firm as a cryptocurrency investment opportunity, urging investors to purchase BARs, TBIS’s type of coin token service, through a series of false statements. Justice said Stollery did not register his company’s initial coin offering (ICO) to the Securities and Exchange Commission (SEC) and did not have a valid exemption.
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