Blockchain Company CEO Pleads Guilty for Fraud

Executive admits to falsifying reviews, white papers, and professional relationships.

This week, the Department of Justice (DOJ) announced that Michael Alan Stollery, CEO and founder of Titanium Blockchain Infrastructure Services Inc., pled guilty to fraud within his company. Mr. Stollery admitted to falsifying the company’s white papers to entice investors, publishing fake client testimonials on the company’s website, and using some investment funds to pay off his personal credit cards and a condo in Hawaii.

“Stollery pleaded guilty to one count of securities fraud,” the DOJ stated. “He is scheduled to be sentenced on November 18 and faces up to 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.”

As the Lord Leads, Pray with Us…

  • For officials of the Justice Department as they seek to prevent fraud against the government.
  • For wisdom for the attorney general as he prioritizes cases and activities within the department.

Sources: The Hill, Reuters


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