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Monday, May 28, 2018

Titanium under investigation from the SEC - assets frozen as agents visit US office...

Titanium Blockchain, which trades under 'TBAR' has been visited by the SEC in their US offices - seizing computers, cell phones - and freezing all company assets, virtually placing the company under SEC control until the investigation is over.

GCP has obtained the SEC documents to review the case - which reads...

"by evidence establishing a prima facie case and reasonable likelihood that defendants Titanium Blockchain Infrastructure Services, Inc. (“TBIS”), EHI Internetwork and Systems Management, Inc. aka EHIINSM, Inc. (“EHI”), and Michael Stollery, aka Michael Stoller, aka Michael Stollaire (“Stollaire”) (collectively, “Defendants”) have engaged in, are engaging in, are about to engage in, and unless restrained and enjoined will continue to engage in transactions, acts, practices, and courses of business that constitute violations of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a), and Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b), and Rule 10b-5 thereunder, 17 C.F.R. § 240.10b-5"

We attempted to reach Titanium staff via their official Telegram channel, but was told "We cannot comment on that" by an admin.

It would appear this is part of 'Operation Crypto Sweep' - a joint investigation between US and Canadian officials that is underway now - looking in to hundreds of recent ICOs. Our sources say up to 70 may be served with similar restraining orders for further investigation.

*UPDATE* - There are new developments to this story here.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk