A group of US investors have filed a lawsuit against rapper T.I. and his business partner Ryan Felton, accusing both men of conducting an alleged cryptocurrency Ponzi scheme with their FLiK coin, The Blast reported on Thursday, citing court documents it had obtained. The 25 plaintiffs are seeking $5 million in reparation after pouring $1.2 million in the digital asset project that T.I. and Felton launched last year.
According to the investors, T.I. used his social media accounts to spread false claims about celebrities supporting FLiK, saying comedian Kevin Hart would become the face of the project and its owner at a later phase. In addition, Felton “created fake online posts on behalf of Mark Cuban [Dallas Mavericks owner] in order to manipulate the value of FLiK Tokens.”
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