As a result of the settlement, he has agreed to pay a $75,000 fine and will not be allowed to sell or market any similar securities for five years. Allegedly, Harris used his social media account to promote FLiK, falsely claimed to be a co-owner and solicited another unnamed celebrity to try to push the cryptocurrency. According to the SEC, this violated federal law since he did not register to sell the securities.
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T.I. Cited for Pushing Fraudulent Crypto, Settles Civil Charge for $75K
Actor and Rapper Clifford Harris, who performs under the name T.I., settled charges with the U.S. Securities and Exchange Commission (SEC) after being accused of promoting a “fraudulent cryptocurrency.” So reports MarketWatch.
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