SEC shuts down Titanium's fraudulent ICO campaign

The US SEC obtained an emergency order halting fraudulent coin offering scheme of Titanium Blockchain Institute Services Inc. on May 29, 2018
30 May 2018   1550

The US Securities and Exchange Commission has obtained a court order to halt the activities of an fraudulent ICO that scammed the investors with a false advertising. According to the SEC press release, Titanium Blockchain Institute Services Inc. has raised $21 million from investors all over the world.

The complaint from the SEC that was unsealed yesterday, on May 29, implicates that TBIS and the company's president Michael Alan Stollery, also known as Michael Stollaire, the self-proclaimed “blockchain evangelist, lied about the company's business relationships not only with dozens of well-known firms but even with the Federal Reserve. Advertisements contained mentions of such firms as The Walt Disney Company, PayPal, Verizon and Boeing, to name the few. The ad campaign has taken media by storm with mentions of big names and promises of unrealistically large gains. Fabricated testimonials from corporate customers and Stollaire's public – and fraudulent – claims to have relationships with numerous corporate clients have been featured prominently on the Titanium's ICO website, social media and in their promotional videos.

“This ICO was based on a social media marketing blitz that allegedly deceived investors with purely fictional claims of business prospects. Having filed multiple cases involving allegedly fraudulent ICOs, we again encourage investors to be especially cautious when considering these as investments.”
Robert Cohen, the head of the SEC Enforcement Division's Cyber Unit said in the statement published on the SEC's official website.

The investigation into Titanium's violation of federal antifraud provisions is in full swing right now, with Stollaire's another company - EHI Internetwork and Systems Management Inc. - also being charged for similar violations. The investors will have to wait for the judicial system's final decision, but the SEC demands banning Stollaire from participating in digital securities offerings in the future and return of all allegedly “ill-gotten gains” plus interest and penalties.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   961

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”