T.I.’s Cryptocurrency Fraud Lawsuit Dismissed Due For Exceeding Statute Of Limitations
It looks like T.I. has received some good legal news amid a rough year for the rapper!
Back in 2019, T.I (real name Clifford Joseph Harris Jr.) was sued by an investor in FLiK–an unregistered and fraudulent initial coin offering (ICO)–and accused of breaking three different cryptocurrency security violations in 2017.
However, court documents filed yesterday (Monday, June 21st) revealed the investor’s 2019 complaint against the rapper was dismissed due to the statute of limitations being exceeded. Regarding this decision, the appellate judges stated:
“Because we affirm the dismissal of the complaint as untimely, we do not reach Harris’s alternative arguments for affirmance, or Felton’s attempt to adopt them.”
In a separate incident, T.I. was also sued by the Securities and Exchange Commission (SEC) this past September. The SEC alleged that the Atlanta-based rapper helped promote FLiK in 2017 and, as a result, was essentially involved in the fraudulent activity. Additionally, the rapper was named as the co-founder of FLiK, though the validity of this is speculative. Due to this SEC lawsuit, T.I. agreed to pay a fine of $75,000 and cannot participate in any cryptocurrency sales until 2025.
While T.I. may have received good news regarding his 2019 cryptocurrency lawsuit, he is still heavily embroiled in a separate legal battle due to accusations of sexual assault. T.I. and his wife–Tameka “Tiny” Cottle-Harris–are accused of drugging and sexually violating over thirty people in the span of about 15 years.
The accusations emerged earlier this year, and since then many more individuals have come forward. However, T.I. and Tiny continue to deny these allegations.
What do you think about T.I.’s cryptocurrency situation? Comment down below to let us know!