SEC Stops Titanium ICO, But After Defrauding Investors out of $21 Million

[kreslik.news]

The US Securities and Exchange Commission (SEC) has obtained a court ‎order halting an allegedly fraudulent initial coin offering (ICO), which ‎has raised up to $21 million from thousands of investors‎ in the U.S. and ‎abroad.‎

According to the SEC’s complaint filed in Los ‎Angeles court on May 22 and unsealed as of late today, Titanium BAR ‎Token used social media, fabricated testimonials, and other wide dissemination ‎tactics in order to raise what it claims to be over $20 million of its $35 million ‎goal. This in a matter of three months, from December 2017 to March 2018. ‎

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