T.I. Gets Accused And Charged For Cryptocurrency Fraud

T.I. Gets Accused And Charged For Cryptocurrency Fraud. Rapper T.I. has just been named in a federal investigation of cryptocurrency fraud case that is to be settled by the Securities and Exchange Commission (SEC). T.I. is among 4 others who have been charged and accused in this case.

T.I. has just recently settled cryptocurrency related charges that had been filed against him and 4 other individuals by the SEC. A recent press release by SEC has named the rapper as part of the fraud case which involves the rapper and 4 other parties who have been promoting film producer’s, Ryan Felton’s 2 unregistered and fraudulent initial coin offerings (ICOs).

The charged individuals have been charged have been promoting the film producers companies which are FLiK and CoinSpark. Felton is now under fire for his misappropriated funds and he has been transferring ICO coins to his account for personal gain in a manipulative and strategic way. The fraud money has now gone up to $2.2 million of profits.

T.I. caught himself to be involved in this case as he shared information about the two companies on his social media pages. He had encouraged his followers to invest in FLiK and he indicated that he was the co-owner. It was later discovered that he was not a co-owner and that the companies were partaking in fraud.

So far the ‘Paper Trail’rapper seems to be unbothered by the case. He has not posted a statement explaining to his followers what has come about with the company he has been heavily promoting. FLiK on the other hand has been raising millions claiming that it is for upcoming artists in the entertainment industry to create film, none of the raise funds went toward the cause they had stated.