Oklahoma Man Admits to Fraud in Cryptocurrency Investment Scheme

According to Odaily, the U.S. Department of Justice announced on Friday that Travis Ford, a 35-year-old man from Oklahoma, has pleaded guilty to a charge of conspiracy to commit wire fraud. This charge is related to his involvement in operating a fraudulent cryptocurrency investment company. Ford served as the co-founder, CEO, and chief trader of Wolf Capital Crypto Trading LLC, also known as Wolf Capital. The Department of Justice stated that between January and August 2023, Ford attracted individuals to invest millions of dollars in the company through promotions, social media posts, and the company website. Ford allegedly claimed that his daily net returns were approximately 1-2%, or 547% annually, ultimately raising $9.4 million from about 2,800 investors. The Justice Department argues that Ford lured individuals into investing in the company with false promises and then used the investors' funds for personal gain, to the detriment of the investors. Ford now faces a maximum sentence of five years in prison.