Yesterday, the Securities and Exchange Commission announced that it had obtained a judicial authorization to terminate the fraudulent ICO, which managed to attract $ 21 million from investors from the United States and around the world. The firm that stands behind the proposed scheme is called Titanium Blockchain Instrastructure Services Inc, the court approved the freezing of the firm’s assets.
SEC Obtains Emergency Order Halting Fraudulent Coin Offering Scheme: https://t.co/k2AqSWw9Mf
— SEC Enforcement (@SEC_Enforcement) May 29, 2018
President of Titanium Blockchain Instrastructure Services Inc Mike Alan Stolleri is accused of making false statements about partnerships with the Federal Reserve, PayPal, Verizon, Boeing, Walt Disney Company and dozens of other well-known companies. The website had several examples, which, according to the Securities and Exchange Commission, were fabricated, and the self-proclaimed Blockchain-Messiah Stolleri allegedly promoted ICO through video and Social Networks, comparing investments in his project with investments in Google and Intel on early stages.
Robert Cohen, head of the SEC protection department, said:
“This ICO was based on blitz marketing in social networks, which deceived investors by fictitious statements about business prospects. We again ask investors to be more cautious with investment projects. ”
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