The SEC brought charges against the Issuer ICO Titanium

The Commission on securities and exchange Commission (SEC) accused the company Titanium and its President in securities fraud in the attempt to raise financing through initial placement of tokens (ICO).

Michael Stollery (Michael Stollery) and his company Titanium Blockchain Infrastructure Services was presented
allegations of violation of the rules of the SEC on anti-fraud and registration in respect of multi-million selling tokens. The Agency accused Stollery in the falsification of information statements, which said that Titanium has a relationship with companies such as PayPal and Disney.

Official representatives of the SEC received permission for urgent freezing of assets of the company and its President, resulting from the sale of tokens, which, according to the SEC, brought in $21 million.

This case resembles the precedent with Centra, took place in December last year. Then the buyers token-ICO, Centra filed
a lawsuit against the creators of the startup, and the SEC brought charges against the company and its three co-founders due to the fact that they have introduced investors to the misconception regarding relations with companies Visa and Mastercard, as well as references on the website of the project-team members.

Robert Cohen (Robert Cohen), head of the Department of cybersecurity the SEC, said

«This ICO was based on aggressive marketing in social networks, in which the company had made false statements regarding its business prospects. We brought more than one case in connection with similar scams and urge investors to be especially careful if they plan to invest in such projects».

Make complaints against Stollery and Titanium was filed may 22. Other companies associated with Stollery — EHI Internetwork and Systems Management Inc., also included in the complaint.

The SEC is not the first year struggles against cryptocurrency scams, with an enviable rate making statements on this issue. In March this year, the Commission stated that it began
to large-scale verification projects-the organizers of the ICO, and in may this year the regulator has created
the website with the «fraudulent ICO» to teach investors to distinguish between a real offer from a fake. Recently it became known that regulators in the U.S. and Canada began
the joint fight against cryptocurrency scams, in support of which was
the Chairman of the SEC.

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