T.I. Facing $5 Million Lawsuit For Apparently Misleading Cryptocurrency

Clifford “T.I.” Harris has been recently suspected of cheating 25 individuals forcing them to finance in a cryptocurrency called FLiK Token. The accusers are prosecuting Atlanta-based Ryan Felton alsong with his partner Harris for safeties fraud and are looking for at least $5 million in compensations.

As per a recent report published in TMZ, the investors mentioned that Felton told them the opening price of 6 cents per token in August 2017 would rise to $14.99 within 15 months. However, the value of the currency reportedly decreased to 1 % in the month of August 2018, with a price of complainants more than $2 million.

The Blast reports court brochures blame T.I. and Felton of using “common media, superstar commendations, and well-known industry experts to make the untruthful imprint that FLiK Tokens were a valued liquid investment.” People who were blamed in this also included Comedian Kevin Hart and Dallas Mavericks owner Mark Cuban, not as offenders, but as instances that FLiK Token misled depositors to trust the two celebrities were associated to the corporate.

Numerous Hip Hop artists have shown their attention in blockchain and popular cryptocurrency. Nas capitalized in Coinbase, The Game co-signed Paragon, Nipsey Husslepurchased a picket in Trail Coin, the Ol’ Dirty Bastard Estate announced Dirty Coin, and Lil Uzi Vert recognized Dripcoin.

Felton claimed that he got Dallas Mavericks owner Mark Cuban as an investor, and even “created fake online posts on behalf of Mark Cuban in order to manipulate the value of FLiK Tokens.”

The investors are accusing of T.I. and Felton of securities fraud. They’re seeking no less than $5 million in damages.