TI a scammer?
According to a lawsuit obtained by The Blast that is exactly what he is being accused of. It wasn’t just your normal scam it was cryptocurrency scam.
According to court documents obtained by The Blast, a group of 25 investors claim they poured over $1.3 million “for now worthless securities called FLiK Tokens.”
The group claims the rapper and a guy named Ryan Felton used “social media, celebrity endorsements, and well-known industry experts to create the false impression that FLiK Tokens were a valuable liquid investment.”
In the lawsuit, the investors claim Felton and T.I. drove up the price of the tokens using the money they got from investors and then “dumped” their tokens and disappeared. They claim once they realized what went down, Felton created a new company that he said acquired FLiK “and speciously told investors that he had nothing to do with the new sham company.”
The investors are suing T.I. and Felton for securities fraud and seeking no less than $5,000,000 in damages.
TI had no comment on the matter.