Titanium Blockchain Infrastructure Services (TBIS)

Titanium Blockchain Infrastructure Services (TBIS) is considered a scam because its CEO, Michael Stollery, engaged in fraudulent activities to deceive investors. Here's a breakdown of the key reasons:

• Misrepresentation: Stollery falsified information in TBIS's white papers, exaggerating the company's capabilities and potential for profitability. He also fabricated testimonials and claimed non-existent relationships with prominent companies and the Federal Reserve to create a false sense of legitimacy.
• Unregistered ICO: TBIS conducted an Initial Coin Offering (ICO) to raise funds from investors, but failed to register the offering with the U.S. Securities and Exchange Commission (SEC) as required by law. This meant investors had no legal protection.  
• Misappropriation of Funds: Instead of using the invested money as promised, Stollery used a significant portion of the ICO proceeds for personal expenses, such as credit card bills and payments for his Hawaii condominium.

These actions clearly demonstrate that TBIS, under Stollery's leadership, operated as a fraudulent scheme designed to deceive investors and misappropriate their funds. As a result, Stollery pleaded guilty to securities fraud and was sentenced to federal prison.

This case serves as a reminder to always be cautious when considering cryptocurrency investments. It's crucial to thoroughly research any company or individual offering investment opportunities and be wary of those making unrealistic claims or promising guaranteed returns.