BUSINESS
T.I. Agrees to Pay $75,000 Fine
It's always something with T.I., man.
Stefon Walters
September 15, 2020
Atlanta rapper T.I. has agreed to pay a $75,000 fine to the U.S. Securities and Exchange Commission (SEC) after promoting a fraud ass cryptocurrency back in 2017. Tip used his social media accounts to promote FLiK, which he referred to as the "Netflix of cryptocurrency," and claimed to be part-owner.
He got caught lackin' as the SEC was performing a bigger operation against film producer Ryan Felton, who raised money from investors to build out the FLiK cryptocurrency, but instead bought a $1.5 million crib, Ferrari, and enough diamonds to look like the 4th Migo.
Felton is facing 28 counts, so all things considered, T.I.'s settlement was the right choice. As part of the deal, T.I. can't sell or promote any cryptocurrencies for at least the next five years.
Be careful who you hop into business with, dawg.
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