Three associates of Clifford Joseph Harris Jr., a rapper also known as T.I. who was responsible for helping launch the FLiK token, have agreed to pay more than $100,000 after a U.S. district court approving a settlement.
According to records filed Nov. 17 in the U.S. District Court for the Northern District of Georgia, Chance White, Owen Smith, and William Sparks Jr. will pay $102,992 in a settlement covering penalties, fees, and disgorgements for their role in selling tokens in initial coin offerings, or ICOs, for FLiK and CoinSpark. T.I., a rapper, singer, and songwriter, has won three Grammy Awards and had several hit singles including Whatever You Like and Live Your Life.
The SEC announced charges against the three in September along with Ryan Felton, founder of video production company AVA, and T.I., alleging that the ICOs were “unregistered and fraudulent.” Sparks, who is T.I.’s social media manager, was charged with violating registration provisions by allegedly selling FLiK