November Sentencing Set for Reseda Man in $21M Cryptocurrency Fraud

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A Reseda man faces up to 20 years behind bars when he is sentenced Nov. 18 for his role in a $21 million cryptocurrency fraud scheme that used fake business relationships with Apple Inc., Pfizer Inc. and The Walt Disney Company to create the appearance of legitimacy.

Michael Stollery, 54 — the CEO and founder of Titanium Blockchain Infrastructure Services, a purported cryptocurrency investment platform — pleaded guilty Friday in Los Angeles to one federal count of securities fraud, according to the U.S. Department of Justice.

The scheme involved TBIS’ initial coin offering, which raised $21 million from investors in the United States and overseas.

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