*Rapper T.I. is slamming reports that he defrauded 25 investors who claim the rapper and a guy named Ryan Felton used “social media, celebrity endorsements, and well-known industry experts to create the false impression” that a cryptocurrency called “FLiK Tokens were a valuable liquid investment.”
As we previously reported, the investors claim they poured over $1.3 million in FLiK Tokens and all they got was flat broke in return.
According to a report from The Blast, T.I. says he is not involved with the crypto company and he never received a dollar from it.
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T.I.’s lawyer, Albert A. Chapar Jr. tells The Blast, “Tip is truly disheartened by the lawsuit. Tip did not receive a single dollar from Felton or any of the money alleged to have been invested by the Plaintiffs, nor did he have any ownership of the company.”
He continues, “Felton has made multiple misrepresentations as well as unauthorized statements about Tip’s involvement. The terribly unfortunate truth is that Felton misused and took advantage of Tip’s name and likeness, thereby victimizing both the investors and Tip.”
The rapper and Felton are being sued for $5 million over FLiK Tokens. Sources say T.I. had minimal interactions early on with the company about possibly being an investor. But those talks were reportedly short-lived and fell apart almost immediately.
T.I. says that the company used his name and likeness illegally, and he’s now weighing his legal options because he feels as much a victim as those who invested, the report states.