T.I. Charged by SEC for Role in Fraudulent Cryptocurrency Scheme – Rolling Stone

The Securities and Exchange Commission announced Friday it has charged T.I. for the rapper’s role in a fraudulent cryptocurrency scheme.

The SEC implicated five Atlanta-area people — including Clifford “T.I.” Harris — for promoting FLiK and CoinSpark, “two unregistered and fraudulent initial coin offerings (ICOs)” led by film producer Ryan Felton, in the summer of 2017.

In the complaint against Harris, the SEC claims “T.I. offered and sold FLiK tokens on his social media accounts, falsely claiming to be a FLiK co-owner and encouraging his followers to invest in the FLiK ICO. T.I. also asked a celebrity friend to promote the FLiK ICO on social media and provided the language for posts, referring to FLiK as T.I.’s ‘new venture.’” Harris’ social media manager William Sparks was also charged by the SEC.

via T.I. Charged by SEC for Role in Fraudulent Cryptocurrency Scheme – Rolling Stone.