Cryptocurrency Fraud: Investors Sue Rapper ‘T.I.’ for Alleged Involvement in ICO ScamBTC Casino / 3rd November 2018
American rapper Clifford Joseph Harris Jr., better known by his stage name “T.I.,” is the latest celebrity to face charges of fraud on account of a cryptocurrency investment scheme gone wrong. Affected investors are suing the rapper as well as Ryan Felton, an Atlanta-based businessman, for running a fraudulent investment involving virtual currencies.
John McAfee on IRS Charges, Will Run Presidential Campaign ‘In Exile’
Wednesday January 23, 2019
Serial cryptocurrency entrepreneur and proponent John McAfee shared a video says that the IRS has convened a Grand Jury in the state of Tennessee in order to put him on […]
The post John McAfee on IRS Charges, Will Run Presidential Campaign ‘In Exile’ appeared first on BTC Casino Gambling.
T.I. Implicated in Pump and Dump ICO Fraud
According to TMZ, T.I. and Felton publicized the creation of FLiK Token in August 2017. The duo allegedly claimed that investors would receive up to 25,000 percent returns on their investments.
It was the height of “crypto mania,” and as such, people were taken in by such grandiose promises. At the time, each FLiK was reportedly valued at $0.06 with Felton declaring that it would surge to $15 in a little over a year. The investors allegedly put up more than $1.3 million in the scheme.
Gemini Lists Bitcoin ABC as the Only Bitcoin Cash
Tuesday December 11, 2018
On December 7th, the Gemini crypto exchange announced they are adding support for Bitcoin Cash (BCH). Gemini will however, only support the fork, which is based on the Bitcoin ABC […]
The aggrieved investors, numbering 25, say both men orchestrated an elaborate pump and dump scheme, artificially inflating the value of the tokens to $0.21 using investor funds. However, upon this price rally, both men allegedly dumped the tokens, causing the price to crash and leading to massive losses for investors.
As part of the ruse, the investors say the duo created the impression that FLiK was a viable investment with a slew of celebrity endorsements, including American actor and comedian Kevin Hart. Felton even falsely identified billionaire Mark Cuban as an investor in the scheme.
A year later, FLiK tokens exchanged for less than a penny. According to the investors, Felton blamed T.I. for the price crash, saying:
T.I gave FLiK tokens to members of his family and friends who sold massive amounts on coinexchange.com causing rapid devaluation.
The group of investors is suing T.I. and Felton for securities fraud and are claiming damages of up to $5 million.
Celebrities in Hot Water for Endorsing Failed Cryptocurrency Schemes
Recently, Live Bitcoin News reported on the news that affected Centra Tech investors were suing Floyd Mayweather and DJ Khaled. Both men actively promoted the failed Centra Tech cryptocurrency project that was shut down by the U.S. SEC earlier in the year.
Also, in June, reports emerged that another American rapper, ‘The Game,” was in hot water for promoting ParagoinCoins. Affected investors launched a multi-million dollar lawsuit against the rapper.
Do you think that T.I is complicit in the FLiK token scam? Let us know your thoughts in the comment section below.
The Huobi Crypto Derivatives market passed $21 Billion in trades
Tuesday January 22, 2019
Huobi’s Crypto Derivatives market was launched back in November of 2018. No one could have predicted the incredible growth and potential of Huobi’s Derivatives market. In early January, Huobi announced […]
The post The Huobi Crypto Derivatives market passed $21 Billion in trades appeared first on BTC Casino Gambling.
Images courtesy of Shutterstock.
The post Cryptocurrency Fraud: Investors Sue Rapper ‘T.I.’ for Alleged Involvement in ICO Scam appeared first on Live Bitcoin News.