Michael Stollery
Founder and CEO of Titanium Blockchain Infrastructure Services (TBIS), whose BAR token ICO raised ~$21M. He pleaded guilty to securities fraud and was sentenced in 2023 to 51 months in prison.
Also known as: Michael Alan Stollery, Michael Stollaire
Bio
Michael Alan Stollery (a.k.a. "Michael Stollaire"), of Reseda, California, founded and led Titanium Blockchain Infrastructure Services (TBIS), whose 2017–2018 initial coin offering of the BAR token raised about $21 million. According to the DOJ, Stollery falsified TBIS white papers, planted fake client testimonials, and fabricated business relationships with the Federal Reserve and companies such as Apple, Pfizer, and Disney, while commingling and misusing investor funds. [1][2]
Legal outcome
Stollery pleaded guilty to one count of securities fraud in July 2022 and, on March 24, 2023, was sentenced to 51 months in prison, three years of supervised release, and about $5.44M in restitution. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
See also
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
HEX / PulseChain (Richard Heart)ProjectsCrypto projects (HEX, PulseChain, PulseX) created by Richard Heart (Richard Schueler). In July 2023 the U.S. SEC sued him for offering unregistered securities that raised $1B+ and for allegedly misappropriating ~$12M for luxury goods (including a 555-carat diamond). A court dismissed the case in 2024 for lack of U.S. jurisdiction; there was no finding of wrongdoing and Heart denies the allegations.
This page was last updated on Jun 15, 2026. View revision history.
