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Rapper T.I. charged by SEC in cryptocurrency scam
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Rapper T.I. has been charged by the Securities and Exchange Commission with promoting a fraudulent cryptocurrency offering.
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The regulator said in its complaint that T.I. — whose real name is Clifford Joseph Harris — sold cryptocurrency tokens using his Twitter account and encouraged his followers to invest in the 2017 FLiK initial coin offering. He also falsely claimed to be a part-owner, the agency said.
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The SEC said the offering was a scam spearheaded by film producer Ryan Felton and, according to Mashable, Felton had promised to build "Netflix on the blockchain" but never delivered.