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T.I. Agrees to Pay $75,000 to Settle SEC Probe

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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Rapper and actor Clifford Harris Jr., better known as T.I., has agreed to pay $75,000 to the U.S. government in order to settle charges related to a fraudulent Initial Coin Offering (ICO).

Under the terms of the settlement, T.I., who last month was cast in a new CBS All Access series Twenty Four Seven, has also agreed not to participate in or promote digital-asset securities for at least five years.

The charges allege that Atlanta-based film producer Ryan Felton launched ICOs for two companies, FLiK and CoinSpark. Rather than using the funds to build the platforms he promised investors, the government alleges that he bought a $1 million home and a Ferrari, among other purchases.

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