THELOGICALINDIAN - Atlanta rapper TI absolute name Clifford Harris Jr has been austere of balance artifice accuse stemming from his declared advance of the FLiK ICO However adolescent defendants agent Ryan Felton forth with amateur and actor Kevin Hart still accept a case to answer
Court Clears T.I. of Securities Fraud Charges
According to Law360, the U.S. Court of Northern Georgia absolved accompaniment balance artifice and added claims brought adjoin T.I. Back in November 2018, Bitcoinist reported that afflicted FLiK ICO investors sued the rapper for accommodating in a counterfeit pump and dump ICO scheme.
The afflicted investors affirmation to accept absent $2 actor to the FLiK ICO betray afterward the declared promotional activities of T.I. and the added defendants. Delivering acumen on the case, U.S. District Judge Charles Pannell Jr., sided with T.I.’s counsel, declaring:
The cloister additionally absolved the plaintiff’s claims that T.I.’s captivation in FLiK ICO promotional activities were adjoin Georgia’s Uniform Securities Act. According to the Judge’s statement, none of the participants in the crypto advance arrangement had any ties with the accompaniment of Georgia.
Judge Pannell additionally declared that the case was clumsy to prove a absolute articulation amid the accommodation of the investors to buy into the arrangement and T.I.’s declared promotional activities.
Celebrities Feeling the Burn for Backing ICO and Crypto Projects
T.I. is one of a few rappers and added celebrities who were caught up in the ICO-mania of 2017, announcement badge sales that ultimately angry out to be fraudulent. As ahead reported by Bitcoinist, the U.S. Securities and Exchange Commission (SEC) acclimatized its accuse adjoin DJ Khaled and Floyd Mayweather.
The SEC fined the brace a absolute of about $800,000 with an added agreement banning both celebrities from announcement agenda balance for two and three years respectively. Both celebs were allotment of the promotional efforts for the CentraTech ICO scam.
In backward February 2024, the SEC additionally airtight amateur and aggressive artisan Steven Seagal with a $314,000 accomplished for announcement the Bitcoiin2Gen (B2G) ICO.
Will the cloister additionally abolish accuse adjoin Kevin Hart in the FLiK ICO betray case? Let us apperceive in the comments below.
Images via Rolling Stone
