The Game is reportedly facing a $12 million judgment for his role in Paragon Coin Inc — a crypto firm alleged to have engaged in an unregistered initial coin offering (ICO) four years ago.
According to Coin Telegraph, Game publicly endorsed Paragon Coin ICO in 2017 and is now considered a team member and “statutory seller.”
The company marketed the PRG tokens as a currency for the cannabis industry and raised $70 million between April 15 and October 15, 2017. When the plaintiffs initially filed a complaint in 2018, a judge determined they failed to clearly explain the firm had employed Game.
But following an amended complaint, United States Federal District Judge Jeffrey S. White noted the plaintiffs have now provided sufficient evidence to show Game “acted for his own gain or for Paragon’s gain” in a California court on Wednesday (June 23). The Game is now liable for $12 million plus pre-and post-judgement interest.
It’s unclear how or if Paragon would even pay back the money owed to investors. The founders have allegedly declared bankruptcy and reportedly fled the United States.
Game is already on the hook for over $7 million, stemming from a sexual battery lawsuit filed by former She Got Game contestant Priscilla Rainey.
Rainey took Game to court in 2016 and the trial ended with a federal jury ordering him to pay Rainey $7.1 million out of the $10 million she was originally seeking. Rainey was awarded a default judgment after The Game didn’t respond to the initial suit. He said he wasn’t properly served the papers for the case and was in the Netherlands at the time of the hearing.
In 2017, he filed a $20 million negligence lawsuit against Viacom — VH1’s parent company — but lost.
GAME OVER
That’s Lil Flip
Game has become this decades version of Ja Rule with the amount of lawsuits and L’s he’s catching. It’s Legendary.
One loss due to a suit we all know shouldn’t exist. Then this which is at formative stages. Not really a comparison, never been out rapped.
Lmfaoooooo
Play the Game
And lost
u AiNt MuCh If U aInT dUtCh!!!
THE GAME
KN0WS HE MUST STAY TRUE T0 THE GAME HE’LL GET RIGHT BACK 0N TRACK !
quite a risky investment cryptocurrency.
This dude will be joining Young Buck and his Trannies in the gutter real soon! #GAMEOVER
the game is the new Tony yayo
Lmao at then fleeing the country. Conning ass crackas
all these millionaires with capital, they could literally be hosting their own nodes / crypto banks with the networks they have, funding entire cities and just eat off the transaction fees while owning a real asset in a secure format that does all the accounting / transacting once set up, instead they on the nft ico ponzi trains, its not that difficult a technology to learn, been in since 2010 : ) raspiblitz ballers
Dayum, So that’s why they call him Game, coz he gets hella played