3 Associates Of Rapper TI To Pay SEC $103K In ICO Scheme

Law360 (November 18, 2020, 3:03 PM EST) — The social media manager for rapper T.I. and two other Atlanta men agreed Tuesday to pay the U.S. Securities and Exchange Commission a collective $103,000 to settle claims they helped convince investors to buy now-worthless digital tokens in an initial coin offering.

The SEC’s September complaint alleges that T.I.’s social media manager, William Sparks Jr., sold tokens on T.I.’s social media accounts for FLiK, a company creating an online distribution platform for entertainment projects.

The SEC also claims two other Atlanta residents, Chance White and Owen Smith, promoted tokens for a proposed digital-asset trading platform called CoinSpark without disclosing they would…

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