Topic: [ANN] Titanium - World's First Decentralised Cloud Services Provider 🚀 - page 3. (Read 81023 times)

Nice to know that the sec are very committed to this case and working hard to see that there is some form of justice to the victims of this scam project,
Yes am sure not too long now the sec will come up with a solution that will align with refund of affected individuals who put money in this unfortunate situation,
If this refund is successful it will really goes to show that scammers can not always go free without been punish by the law, an array of hope for investors.

Michael Stollaire spent all his ICO money on a condominium in Hawaii and hookers. I don't think we will ever see our money again.

There is a notice by SEC on the main website of the tbis.io with some useful links to get the latest on this case. That is best place to follow the proceedings it seems that case will reach to some solution very soon without putting us all to wait for long. How the things move that remain to be watched when it comes to return money to those invested in this project. This is a test case in my opinion which will define guide lines for future issues of this kind.

Right but given how the SEC reacted I think he will be severely punished for what he did. Not going to be a free man anytime soon I can imagine.

Oh yes it went bad for the investors here. This guy was rude and he had all the criminal energy to pull this off.

They are proceeding with everything now and I am sure there will be a decision very soon by the SEC. I think they also announced that there might still be money to be distributed to those who suffered from financial losses.

I read this thread but didn't see tha somebody wrote to SEC.

Friend, bounty is finished and devs are scammers=)

I can wrote to SEC again and ask is any news but friends read SEC press releases https://www.sec.gov/news/pressreleases because i don't know english very well.
Last news which i saw https://www.sec.gov/litigation/litreleases/2018/lr24160.htm

Is there a probability that SEC force to Titanium team to pay ICO investor's money?
They are going to be punished but this is not enough for the investors. They have lost money. The team must pay the ICO investor's money.

Where can we track the progress on this case to keep us updated with the latest ? Anyone has any link or knows what are the nearest hearings in court ? Someone got highly positive feedback by SEC representatives on the recovery. That is clear they to be punished but if we can recover money why not to keep the hopes alive ?

you are absolutely right, aside from losing money to this filthy scammers the most important is that they are cut by the sec, known to the whole crypto community and will be facing the law, they should be made example of so that others with similar motives will think before scamming investors.
this is very necessary otherwise there will be a lot more scam project disguise behind decentralized blockchain to scam investors, culprit should be filter out of crypto space before blockchain is turned to an access to make easy money using false information.
investors needs to be more careful of this scam project.

I don't care of my investment which is vanished already and this isn't first time I watched similar situation. I will be more happy to see these scammers to be punished and made a example for other people who are thinking to deceive people using false information. They are caught this is good for the moment.

It's cool how responsive they are. I mean it is their job of course but I thought it may take them much longer to respond to emails from individuals.

Hello! What about Bounty? I don't find any information..

You efforts to get these responses are highly appreciable and praised. It looks like the procedure will be very lengthy and individually will be much difficult for anyone to get money back. It is good to mobilize the investors to have common voice and on the same page to deal more efficiently with the case. It is very interesting what you got as reply and will define fate of similar cases in future.

Well from the look of things i think there's a tiny bit of hope that some how the SEC are able to recover the investors money then the investors claim fund could be established and all the ico investors will surely get their money back,
But Ofcours this will surely take some time to effect but it is a ray of hope that some how the SEC will uncover the fraudulent activity involve and deal with the culprit in accordance with the the law.

Hello guys. Has anyone wrote to SEC about how to return our money from ico?

I have received 2 letters from SEC wneh wrote to them.

Dear Investor:
Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
On May 29, 2018, the SEC obtained a court order halting an ongoing fraud involving an initial coin offering (ICO) that raised as much as $21 million from investors. The complaint, unsealed in federal court in California, alleges an ICO investment fraud by Michael Alan Stollery aka Michael Stoller aka Michael Stollaire through two companies controlled by him:  Titanium Blockchain Infrastructure Services, Inc. and EHI Internetwork and Systems Management, Inc. aka EHI-INSM, Inc.  The court order also approved an emergency asset freeze and the appointment of a receiver for Titanium.   
The SEC’s complaint is available at https://www.sec.gov/litigation/complaints/2018/comp-pr2018-94.pdf.  A press release describing the SEC’s action is available at https://www.sec.gov/news/press-release/2018-94.   Check the SEC’s website, www.sec.gov, for updates on the case.

And few days later

Thank you for your follow-up email.
Depending on the outcome of the case and if the SEC ultimately recovers a monetary award, an investor claim fund may be established for the benefit of the defrauded investors. If such a fund is established, information will be available at https://www.sec.gov/litigation/fairfundlist.htm For additional information regarding how harmed investors may recover their money, see at https://www.sec.gov/oiea/investor-alerts-bulletins/ib_recovermoney.html. There is a process when distributing funds to harmed investors. Please note that the court or the SEC must approve an administration and distribution plan before any money can be distributed to harmed investors. Typically, a fund administrator or distribution agent will implement a claims process or other notification process to identify injured investors who may be eligible for distribution from a fair fund or disgorgement fund.
Sincerely,

Karen R. Flemming-McDowell
Investor Assistance Specialist
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission

So what to do investors now? how refund money from ICO?

You are right concerning TBAR, but there were also Bitconnect and Centra, which scammed not less people .....Crypto 

Now that's not clear to what the developers expected? What no one will ever reveal their not an ideal plan? And why did they re-issue the token?

TBAR is a good lesson for all of us. Many well-known ICO reviewer joined the ICO, many well-known projects like electrum consociate with Titanium.
Look at the situation now. Thousands of people were scammed by the team.

Unlucky but to be honest it was fishy here with all those allegations and this weird hack from an insider as someone here said. I didn't believe the story.