Rapper T.I. to Pay $75,000 Fine for Promoting Fraudulent ICO (1)

Sept. 11, 2020, 11:16 PM

Clifford Harris Jr., the Atlanta-based rapper better known as T.I., agreed to pay a $75,000 penalty to settle U.S. Securities and Exchange Commission claims that he played a role in promoting an unregistered and fraudulent initial coin offering.

T.I. promoted FLiK tokens to his social media followers in 2017, falsely stating that he was a co-owner of the “Netlifx on the blockchain,” which was advertised as creating a streaming media platform with products that could be purchased with digital tokens, the SEC said in a statement Friday. The company’s founder, a film producer, is facing claims that he misappropriated money ...

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