Travis Ford Pleads Guilty to Fraud Charges

Date: Friday

Travis Ford, a 35-year-old man from Oklahoma, has pleaded guilty to conspiracy to commit wire fraud. This charge relates to his role as co-founder, CEO, and head trader of a fraudulent cryptocurrency investment firm named Wolf Capital Crypto Trading LLC (Wolf Capital).

Between January and August 2023, Ford solicited individuals to invest millions through various channels including promotions, social media posts, and the firm’s website. He lured approximately 2,800 investors by promising returns of about 1-2% daily, amounting to an astonishing 547% annually, ultimately raising $9.4 million.

The Department of Justice (DOJ) alleges that Ford made false promises to attract investments and subsequently used the funds for personal gain alongside his co-conspirators, harming the investors in the process.

This case highlights the ongoing prevalence of Ponzi schemes within the crypto sector. However, fraudulent schemes are evolving, with increasing incidences of “pig butchering,” where scammers build trust and feign romantic interest before stripping victims of large amounts of money.