3 associates of Clifford Joseph Harris Jr., a rapper also known equally T.I. who was responsible for helping launch the FLiK token, accept agreed to pay more than than $100,000 after a U.Southward. commune court blessing a settlement.

According to records filed Nov. 17 in the U.S. District Courtroom for the Northern District of Georgia, Chance White, Owen Smith, and William Sparks Jr. volition pay $102,992 in a settlement covering penalties, fees, and disgorgements for their office in selling tokens in initial coin offerings, or ICOs, for FLiK and CoinSpark. T.I., a rapper, vocalizer, and songwriter, has won three Grammy Awards and had several striking singles including Whatsoever You Similar and Alive Your Life.

The SEC appear charges against the three in September forth with Ryan Felton, founder of video production visitor AVA, and T.I., alleging that the ICOs were "unregistered and fraudulent." Sparks, who is T.I.'s social media director, was charged with violating registration provisions by allegedly selling FLiK tokens on the rapper's social media accounts.

White and Smith, who are both involved in the Atlanta film industry, were charged with violating registration and anti-touting provisions for allegedly promoting CoinSpark without revealing they were beingness paid for their endorsement of the token.

The trio agreed to settlements at that fourth dimension, which were approved by the court on Tuesday. The SEC's case confronting Felton is reportedly nevertheless ongoing, while the commission ordered T.I. to pay a $75,000 penalty and not participate in offerings or sales of digital-asset securities for at least five years.

FLiK was one of many tokens appear during the 2017 ICO boom. When the token was launched that September, Felton claimed on social media that FLiK would run into "tremendous growth in ane year" and exist redeemable for $14.99 in 15 months. Nevertheless, the price of the token only reached $0.21 at its peak on Oct. 17 and is currently being traded at $0.000289 according to data from CoinMarketCap.

In 2018, a group of 25 investors named Felton and T.I. in a grade-action lawsuit accusing them of running a pump-and-dump scheme with FLiK by hyping upwards the token using misleading data and glory endorsements.

The group's legal team after amended the lawsuit to include comedian Kevin Hart for his alleged role. A U.S. district judge dismissed the suit confronting T.I. earlier this year, stating he found no concrete bear witness of securities violations or negligent misrepresentation regarding the rapper touting FLiK.