The Game is back in some legal trouble again and this time it is for something he never touched or even saw.
The Compton rapper, whose real name is Jayceon Taylor, may have to dish out $12 million for endorsing a crypto firm, Paragon Coin Inc.
You may be saying, “So what! Mad rappers are getting into cryptocurrency.”
Well, apparently this company allegedly engaged in what is considered an “unregistered initial coin offering (ICO)” back in 2017. This is where The Game is pulled in, as he publicly backed the company on his social media, and his fans responded trusting his word.
According to Cointelegraph, “Paragon touted its PRG tokens as a currency for the cannabis industry and raised $70 million from the public between April 15, 2017, and Oct. 15, 2017.”
Paragon was founded by former beauty queen/reality TV show “star” Jessica VerSteeg and her husband, Russian entrepreneur Egor Lavrov.
Originally the case was filed in 2018, but the rapper was left unscathed as the plaintiff didn’t note the connection between Paragon and The Game in a clear way.
But things have changed.
United States Federal District Judge Jeffrey S. White noted in his verdict on an amended complaint that there is now has enough evidence to bring the “Hate It or Love It” rapper up on charges.
He said, “Taylor acted for his own gain or Paragon’s gain,” and thus held accountable as a part of the Paragon team which is accused of selling the coins as unregistered securities.
Judge White said that because he considers him a “statutory seller,” he is liable for $12 million-plus pre-and post-judgment interest.
As for VerSteeg and Lavrov, the pair have vanished – they have not been heard from since 2019.
When adding on to the $7 million Game owns to Priscilla Rainey, the rap star could be in the hole to the tune of an amazing $19 million.
