RATE Group | T.I. Continues to Battle Allegations of Cryptocurrency Fraud
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T.I. Continues to Battle Allegations of Cryptocurrency Fraud

20 Aug T.I. Continues to Battle Allegations of Cryptocurrency Fraud

Posted at 00:52h in Cryptocurrency News by

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Photo Credit: The Come Up Show / CC by 3.0

Rapper T.I. is hoping to escape a lawsuit filed against him by investors in a failed cryptocurrency ICO, FLiK.

Investors allege that T.I. — whose real name is Clifford Joseph Harris Jr. — hyped up the entertainment company FLiK and its ICO.  The rapper heavily promoted the ICO with the company’s executive, Ryan Felton.

The duo promised a major return on investment, but now the token is worthless.  Seriously.  Here’s a look at where FLiK sits today, with 99.26% value lost.

T.I. filed for a dismissal on Thursday, saying the amended complaint lists him and Felton as controlling shareholders. However, it’s not mathematically possible for both oft hem to own more than 50% of the company.

The dismissal also says that T.I.’s actions did not induce the investors to purchase the tokens. It also says the complaint lacks sufficient evidence that he solicited investors to buy tokens.

Most of the original lawsuit’s content revolved…

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