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T.I. To Pay $75K For Involvement in Social Media Investment Fraud

T.I. went on social media recently to encourage his 13 million followers to invest the money they received from the government in property. Now the Securities and Exchange Commission revealed that the rapper has to pay penalties for his involvement in alleged trading fraud. The SEC charged T.I. for aiding Atlanta-based film producer, Ryan Felton, to raise money for a fraudulent company on social media. T.I. and his social media manager, William Sparks, Jr., were all named in Felton’s scheme, where he sought funds to invest in his digital companies FliK and CoinSpark. 

T.I. has agreed to pay the SEC $75,000 in civil penalties and isn’t allowed to participate in any digital assets trading or promotion for the next five years.  His social media manager was also penalized  $25,000.

OP’s Watching: T.I. Named In Fed Cryptocurrency Investigation, Settles For $75K

Via hiphopwired.com
 

Editorial credit: Michael A Walker Jr / Shutterstock.com

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