Titanium Blockchain CEO Behind BARs ICO Fraud, Put Behind Bars for 4 Years

The long wait is finally over and the Titanium Blockchain executive is facing justice for his part in the BARs ICO fraud. After pleading guilty in July last year, the Titanium Blockchain executive has been sentenced to four years in prison. The executive, known as Marangell Murguet, was found guilty of sale and transfer of unregistered securities, wire fraud and money laundering of over $1.5 million dollars. The accused also defrauded revenue from at least 16 victims who invested in the BARs ICO during the 2017 spring wave. According to the Federal Bureau of Investigation (FBI), the accused falsely told victims that the money was being invested in BARs tokens to increase its price. Murguet was able to get away with this scam until he was arrested in January 2019. The judge presiding over the case said in a statement that, "Punishment must be imposed to make sure that it is known to the public that such fraudulent activities will not be taken lightly." It also noted that Murguet had not made any attempts to pay back the victims, or even express remorse for his actions. With this sentence, Murguet's case has set a precedent in the cryptocurrency world and serves as a warning to all investors and executives who are tempted to scam their way to riches. The Titanium Blockchain project is still going on, however, despite the harsh punishment that Murguet has received. The tech startup aims to revolutionise the financial industry by connecting it to the world of blockchain-based solutions. In conclusion, the Titanium Blockchain CEO has finally been sentenced to a total of four years in prison after pleading guilty in July last year, for sale and transfer of unregistered securities, wire fraud and money laundering of over $1.5 million dollars. This sentence serves as a stern reminder to all investors and executives in the world of cryptocurrencies that any sort of fraudulent activities will not be tolerated.