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TI fined $75,000 for promoting dodgy ICO for a “Netflix on the blockchain”

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completemusicupdate.com
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Rapper TI was fined $75,000 last week by the US Securities And Exchange Commission for his role in a venture called Flik, finance for which was raised by one of those Initial Coin Offering schemes where so called Flik tokens were sold.The US regulator said that TI – real name Clifford Harris – broke the law when he promoted and sold the now worthless Flik tokens via his social media accounts.

In particular, the rapper falsely claimed to be a co-owner of Flik.The SEC added that it had pursued action against a total of five people in relation to the rule-breaking that occurred during the Flik ICO, four of whom – including Harris – have now agreed to settle.Legal action continues against the fifth man, film producer Ryan Felton, who billed.

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