Titanium Blockchain (BAR)
A 2018 ICO by Titanium Blockchain (TBIS), led by Michael Stollery, that raised ~$21M for its 'BAR' token using fabricated testimonials and bogus partnerships (e.g. the Federal Reserve, PayPal, Boeing). The SEC froze it; Stollery was sentenced to 51 months.
Also known as: Titanium Blockchain, TBIS, BAR, Michael Stollery, Michael Stollaire
Summary
Titanium Blockchain Infrastructure Services (TBIS), led by Michael Stollery (a.k.a. Michael Stollaire), ran a 2018 ICO for its "BAR" token that raised about $21 million. The SEC and DOJ said Stollery lured investors with false and misleading statements — including fabricated client testimonials and bogus business relationships with firms such as the Federal Reserve, PayPal, and Boeing. [1][2]
Outcome
The SEC obtained an emergency asset freeze in 2018. Stollery pleaded guilty to securities fraud and was sentenced in 2023 to 51 months (about 4.25 years) in prison and ordered to pay over $5.4 million in restitution; he had commingled investor funds for personal expenses, including bills for his Hawaii condo. [1][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.