T.I. AND BUSINESS PARTNER ARE BEING SUED FOR $5M OVER A FAILED CRYPTOBUSINESS

T.I. & his business partner, Ryan Felton, have been sued by a group of investors over a failed cryptocurrency business. They're seeking no less than $5M in damages.

T.I.  launched his cryptocurrency business, FLiK Tokens, in 2017 and unfortunately, the business venture hasn't been working out too well.

According to #TheBlast and #HNHH, T.I. and his business partner are being sued by a group of 25 investors who claimed they invested $1.3M into the cryptocurrency venture. The investors said that Tip and the rapper's business partner utilized “social media, celebrity endorsements, and well-known industry experts to create the false impression that FLiK Tokens were a valuable liquid investment.” 

The rapper allegedly gave the impression that #KevinHart was going to be the new face of the company and owner, this hiking up prices of the “tokens”  once the money was received from investors, T.I.P.’s company “dumped” the crypto-coins and vanished.

Felton went on to create another company and explained that “the devaluation was caused, at least in part, because T.I. had given FLiK tokens to members of his family and friends who had sold massive amounts on coinexchange.com causing rapid devaluation.”