CEO of Crypto Firm Pleads Guilty to Investment Fraud
CEO and Co-Founder Travis Ford of Wolf Capital Crypto Trading LLC has pleaded guilty to investment fraud charges.
Ford helped to launch Wolf Capital in January 2023 and promised investors a 1-2% per day return if they invested with the company, according to the charging documents.
Ford faces a maximum of five years in prison for his crimes, according to the DOJ press release. A date for Ford’s sentencing has not yet been set.
Promises of Exhorbitant Returns
Ford was the head trader at the company and advertised himself as a trader who could yield high returns on investment, according to the charging documents. Ford and his co-conspirators at Wolf Capital connected with investors via their website and other social media platforms like Discord and Telegram servers. Through these platforms, Ford convinced investors to send investment money to Wolf Capital.
Instead of gaining the investors 1-2% gains per day, Ford was losing investors’ money, according to the charging documents. Investors began questioning Ford’s abilities and wondering if the program was a scam. Despite this, Ford reassured the investors that their funds were safe, stating that the process was “simple math” and that he would prove it so people would stop worrying about Wolf Capital scamming them.
Received Millions in Investments
Ford and Wolf Capital received around $9.4 million in investments from 2,800 different investors, some of which were used for personal gain, according to the charging documents. On Aug. 16, 2023, nine months after creating Wolf Capital, Ford told his investors that he had lost all their money and closed the company.
Ford pleaded guilty to conspiracy to commit wire fraud and will have to forfeit $1,039,128.45 to repay some of the gains he received from the scam, according to his plea agreement. Ford wrote a letter in the plea agreement admitting that he did not believe investors would receive the exorbitant annual returns that he promised, and that he told them this to deliberately deceive them. Ford also admitted to showing his investors reports that purported record profits, e.g., Wolf Capital, made $102,351.19 between June 12 and June 19, 2023, while omitting the company’s substantial trade losses in the same week.
Similar Case
This case mirrors others, such as the case of Aaron A. Wagnor, 42, from Alpine Utah who was indicted on Nov. 6, 2024, on charges of money laundering and wire fraud, as The Daily Muck previously covered.
Wagnor, who was a former football player in the NFL, allegedly got funds from investors who were promised high returns from restaurant business projects. Instead, Wagner reportedly spent their invested funds on himself and his lifestyle.
Discover More Muck
Big Game Hunter Tries to Bring Endangered Species Trophy Home to California
Report Strahinja Nikolić | Feb 21, 2025
Largest COVID Scam Ever: Scammers Allegedly Filed for 600 Million of Fake Benefits
Report Jessika Saunders | Feb 21, 2025
Colorado Business Woman Withheld Taxes from Employees, Never Paid IRS
Report Jessika Saunders | Feb 21, 2025
Weekly Muck
Join the mission and subscribe to our newsletter. In exchange, we promise to fight for justice.
Weekly
Muck
Join the mission and subscribe to our newsletter. In exchange, we promise to fight for justice.
