The SEC fined the promoters of ICO FLiK on $130 000

United States Securities and Exchange Commission (SEC) fined ICO promoters FLiK, held in 2017 year, on $130 000 for violation of the law on securities during the conduct and promotion of ICO.

September Owen Smith (Owen Smith), Chance White (Chance White), William Spark (William Spark) and rapper Clifford Joseph Harris (Clifford Joseph Harris), known as T.I., were accused
in violation of the law on securities, Since they recommended investors to buy ICO Flik tokens, Without reporting, what they paid for the promotion of the project. Besides, SEC accused the film producer Ryan Felton (Ryan Felton) in illegal assignment of money and fictitious trade in cryptocurrencies using income from two ICOs: Flik и Coinspark.

This week is Smith, White and Spark agreed
for the final conditions of their punishment, without recognizing or denying offenses. Now they are forbidden to deal with digital securities over the next five years. They also have to pay a fine $130 000 For violation of securities laws. It is still unclear, At what stage of settlement are accusations against Felton and rapper T.I.

Recall, What from the beginning 2020 year, the US Securities and Exchange Commission has collected
more $4.68 billion in the form of fines and confiscated illegal income. More than a quarter of this amount came from Telegram.