Connect with us

News

T.I. Settles Charges With SEC Over Fraudulent Cryptocurrency

Rapper, actor, producer, club owner, investor. T.I. has long been a proponent of diversifying his streams of income and is known as a keen entrepreneur that is always quick to impart financial wisdom and advice on his followers.

However, it’s that same eagerness that recently landed the Atlanta rapper in trouble with the Securities and Exchange Commission. He was charged by the SEC as part of Atlanta-based movie producer Ryan Felton’s fraud scheme. The charges allege that Felton “misappropriated funds” and “engaged in manipulative trading” to inflate the price of the Spark tokens he was offering. 

Advertisement

Felton first recruited Tip to promote FLiK, who then “falsely claim[ed] to be a FliK co-owner and encourag[ed] his followers to invest in the FLiK ICO,” according to an SEC press release

An ICO, or initial coin offering, refers to an Internet-based method of crowdfunding for new cryptocurrencies. 

Advertisement

Lars Niki/Getty Images for BET

Tip, along with his social media manager, William Sparks, were charged with promoting fraudulent ICOs that were not registered with the SEC. The two have since settled their civil charges with the SEC, paying a $75,000 fine and agreeing to refrain from marketing or selling securities for a minimum of five years.

In a statement given to HipHopDX, a representative for T.I. asserted that the rapper “regrets his involvement with Mr. Felton.” The SEC’s claim alleges that Felton used the misappropriated funds he embezzled and “the proceeds of his manipulative trading to buy a Ferrari, a million-dollar home, diamond jewelry, and other luxury goods.”

Advertisement
Advertisement

Stay updated! Click the Google News follow button for more news and updates.

Follow on Google News

News

Bianca Censori Defies Hotel Dress Code in Scandalous Style with Kanye West

Bianca Censori

Earlier this week, Bianca Censori and her husband Kanye West were spotted at the iconic Chateau Marmont for lunch. The Australian model, known for her daring fashion choices, turned heads yet again with her provocative outfit. Censori sported a tiny pair of shorts, black heels, and a revealing white bikini top, which undoubtedly caught the attention of both onlookers and the hotel staff.

Despite Chateau Marmont’s strict business casual dress code, Censori’s nearly nude appearance did not elicit any complaints from the staff. This is not the first time Censori has pushed fashion boundaries at the luxury hotel. Earlier this month, she made headlines by arriving in a thong and later in a sheer nude mini dress paired with long stockings, heels, and a tan hat, while Kanye shielded her from photographers.

Advertisement

As of now, Chateau Marmont has not commented on Censori’s repeated dress code violations. What do you think of Bianca Censori’s scandalous fashion statements at the Chateau Marmont? Share your thoughts in the comments and stay tuned to Honk Magazine for more updates.

Advertisement
Continue Reading

News

Keke Palmer Defends Tyler Perry Amid Misogyny Backlash, “The Real Enemy is the System!”

Keke Palmer

In a recent episode of her podcast Baby, This is Keke Palmer, Keke Palmer hosted Tyler Perry, sparking intense discussions online. Perry’s comments, addressing long-standing criticisms that his films often depict Black women in distress, went viral. Defending his creative choices, Perry stated, “A large portion of my fans are disenfranchised. Who cannot get in the Volvo and go to therapy on the weekend. You’ve got this highbrow negro who is all up in the air with his nose up looking at everything… Don’t discount these people and say their stories don’t matter. Who are you to be able to say which Black story is important, or should be told? Get out of here with that bullsh*t.”

Perry’s remarks led to significant backlash, including accusations of misogyny. In response, Keke Palmer took to social media platform X to defend Perry. She argued that critics are misdirecting their anger. “The enemy isn’t Tyler, it’s the system that makes it hard for multiple black artists to shine at one time,” Palmer asserted. “Oppression turns you against the person that gets the shine opposed to questioning why there can only be so few at a time. Tyler is not the gatekeeper of all black stories; he’s just one creative who broke through the system. Advocating for others to do the same is the fight, not hating Tyler for his work that many do love.”

Advertisement

Palmer also highlighted Perry’s significant contributions to the Black community in a follow-up tweet, noting his employment of numerous Black individuals and urging followers not to “blame his movies for oppression.”

What are your thoughts on Keke Palmer’s defense of Tyler Perry amid the backlash? Share your opinions in the comments, and stay tuned to Honk Magazine for more updates.

Advertisement
Continue Reading

Video Of The Week

Trending