CEO of Wolf Capital Acknowledges Guilt in $9.4 Million Cryptocurrency Fraud Case

An individual from Oklahoma has confessed to running a cryptocurrency investment fraud scheme that misled almost 2,800 investors, collecting $9.4 million in the process.

Travis Ford, a 35-year-old resident of Glenpool, pleaded guilty on January 10 to a charge of conspiracy to commit wire fraud. He served as the CEO, co-founder, and lead trader for Wolf Capital Crypto Trading LLC.

This so-called investment firm was operational from January to August 2023, marketing itself through its website, social media, and various online platforms.

Court documents reveal that Ford falsely portrayed himself as an expert trader capable of providing remarkable daily returns of 1-2%, which would equate to an annual return of about 547%.

Ford acknowledged that he was aware such returns were impossible but still made these promises to attract investors. He misused the investment funds for his own benefit and that of his co-conspirators, resulting in substantial financial losses for investors.

The Justice Department shared the details of the plea on Friday, with Principal Deputy Assistant Attorney General Brent Wible and U.S. Postal Inspection Service (USPIS) Inspector in Charge Eric Shen emphasizing the extensive nature of the fraudulent operation.

Ford could face a maximum of five years in prison, with sentencing to be determined by a federal district court judge. Factors including the U.S. Sentencing Guidelines will be considered during the final sentencing process.

A date for sentencing has yet to be announced.

This news follows closely on the heels of a federal grand jury in the Eastern District of Washington charging a former pastor with 26 counts of fraud for allegedly orchestrating a cryptocurrency scheme.

  • Related Posts

    Usindiso Building Fire Tragedy: 76 Lives Lost as Alleged Arsonist Sithembiso Mdlalose Stand Trial

    Johannesburg – Lawrance Sithembiso Mdlalose, a 30-year-old individual, is charged with igniting a fire at the Usindiso Building that tragically led to the death of 76 people. He made his…

    Continue reading
    Minnie Dlamini Reveals New Romance and Dazzling Porsche This Valentine’s Day!

    Heads up, everyone—Minnie Dlamini has rejoined the singles scene, and she’s making waves! The former media personality and now entrepreneur has taken to Instagram to announce her new relationship with…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Usindiso Building Fire Tragedy: 76 Lives Lost as Alleged Arsonist Sithembiso Mdlalose Stand Trial

    Usindiso Building Fire Tragedy: 76 Lives Lost as Alleged Arsonist Sithembiso Mdlalose Stand Trial

    Minnie Dlamini Reveals New Romance and Dazzling Porsche This Valentine’s Day!

    Minnie Dlamini Reveals New Romance and Dazzling Porsche This Valentine’s Day!

    Solana Fans Switching to Ethereum Ahead of Upcoming PayFi Cryptocurrency Launch

    Solana Fans Switching to Ethereum Ahead of Upcoming PayFi Cryptocurrency Launch

    Riveiro Talks About Saleng and Missing Players

    Riveiro Talks About Saleng and Missing Players

    Are Roses Still the Go-To Choice for Valentine’s Day?

    Are Roses Still the Go-To Choice for Valentine’s Day?

    Promising Young Footballer Seeks Assistance to Participate in the 2025 Dallas Cup

    Promising Young Footballer Seeks Assistance to Participate in the 2025 Dallas Cup