Former CEO Pleads Guilty in $21 Million Crypto Fraud Scheme, Wants to Give Money Back to Investors

The Department of Justice (DOJ) logo is pictured on a wall in New York on Dec. 5, 2013. Carlo Allegri/Reuters

The CEO of Titanium Blockchain Infrastructure Services Inc (TBIS), a purported cryptocurrency investment platform, pleaded guilty on July 22 to his role in a cryptocurrency fraud scheme, the Department of Justice (DOJ) announced.

Michael Alan Stollery, 54, of Reseda, California, was the CEO and founder of TBIS, which was founded in 2017.