Oklahoma man gets five years for leading $9.4 million crypto investment fraud scheme
Quick Take Travis Ford, 36, who was the CEO, co-founder, and top trader of Wolf Capital Crypto Trading LLC, was sentenced on Friday. Ford, who promised investors exaggerated returns of 1%-2% per day, will also pay $1 million in forfeiture and over $170,000 in restitution, according to a statement from the Justice Department.
An Oklahoma man was sentenced to five years in prison after being found to have led a $9.4 million cryptocurrency investment fraud scheme.
Travis Ford, 36, who was the CEO, co-founder, and top trader of Wolf Capital Crypto Trading LLC, was sentenced on Friday. He was also ordered to pay $1 million in forfeiture and over $170,000 in restitution, according to a statement from the Justice Department.
Prosecutors say Ford raised money from about 2,800 investors in 2023 through his company's website and social media.
Ford said he was a "sophisticated trader," but prosecutors said he later admitted in his guilty plea for wire fraud that he knew the investment returns he promised to customers could not be consistently achieved. Ford told investors that Wolf Capital would return 1%-2% per day, but prosecutors said Ford knew that was not happening and instead that money was being lost.
At one point in 2023, Ford attempted to quell concerns by telling investors that "[e]verything is safe and I will prove it in the morning to stop all the BS FUD [Fear, Uncertainty, and Doubt] about us scamming, it's just simple math at this point," according to a court filing .
"Instead, Ford and his co-conspirators allegedly made such false promises to induce members of the public to invest money in the company. Ford then misappropriated and diverted investor funds to benefit himself and his co-conspirators, to the financial detriment of investors," prosecutors said on Friday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Visa Executives' Share Dealings: Standard Financial Actions, Not Indicators for the Market
- Visa executives conducted routine stock transactions in late 2025, exercising shares to cover tax liabilities and surrendering portions to offset costs. - Senior officers including CFO Chris Suh and Tullier Kelly Mahon executed trades under prearranged plans, aligning with standard insider financial management practices. - Analysts emphasize these moves reflect personal financial strategies rather than market signals, though transparency remains critical amid regulatory scrutiny of executive compensation
Dogecoin News Update: Chainsaw Ambitions Halted: DOGE Ends Operations Eight Months Ahead of Schedule
- Trump's DOGE agency, led by Musk, disbanded eight months early, failing to cut $2 trillion in spending. - Critics accused it of overreaching, while OPM absorbed its functions and former members transitioned to new roles. - Mixed reactions persist, with states creating local equivalents and questions about long-term impact.
Revolut Achieves $75 Billion Valuation, Overtaking Major Traditional Banks
- Revolut's $75B valuation surge reflects a $30B increase since 2024, driven by a funding round led by top-tier investors including Fidelity and Dragoneer. - The fintech reported $1.4B pre-tax profit growth and plans $13B in investments to expand to 100 million customers across 30 new markets by 2027. - CEO Nik Storonsky aims to secure UK banking licenses while pursuing global expansion in Mexico, Colombia, and India with regulatory approvals already secured. - Analysts highlight crypto trading and interes
Dogecoin News Today: Traditional Financial Sector Welcomes Crypto with the Introduction of Grayscale's GDOG and GXRP ETFs
- Grayscale's GDOG and GXRP ETFs launched on NYSE Arca on November 24, 2025, marking crypto's mainstream financial integration. - The ETFs convert private trusts into tradable products, enabling institutional access to Dogecoin and XRP without digital wallets. - Derivatives volumes for DOGE and XRP surged pre-launch, while XRPC and SOL ETFs show growing demand for regulated crypto exposure. - Divergent regulatory approaches emerge: GDOG holds physical Dogecoin via Coinbase , contrasting derivative-based mo
Trending news
MoreCrypto prices
More
