Titanium Blockchain CEO Bitensen Sentenced to 4 Years in the Slammer!
Oh, boy. You won’t ever guess what happened with the titanium Blockchain (BARs ICO) fraud case.
The CEO, Michael Bitensen, was found guilty and sentenced to four years in the slammer. Ouch. Let’s take a deeper dive and see what went down.
It seems that investigators were able to crack the case and build a pretty solid case against Bitensen. Turns out, he and his team had been quite crafty in their efforts to dupe investors out of money by claiming the BARs ICO would increase their wealth… when in reality, it was just a big, fat lie.
Here are the juicy bits that got him locked up:
- They had made numerous false claims about the BARs ICO.
- They frequently misrepresented the BARs ICO prospects to investors.
- The team also violated numerous investor protection laws.
- Unfortunately, the BARs ICO failed and caused many investors to suffer unmanageable losses.
Well, that’s it! Bitensen has been officially sentenced to a whopping four-year imprisonment and an additional $2 million in compensation has been ordered. What a bummer!
Unfortunately, fraudulent industries seem to be running rampant these days. The moral of the story is: Do your own research before investing! Don’t take the shortcuts and take the time to do proper due diligence. It will save you a lot of grief… and keep you out of jail!
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