Wolf Capital CEO pleads guilty in $9.4m crypto fraud case

An Oklahoma man admitted to orchestrating a fraudulent cryptocurrency investment scheme that duped nearly 2,800 investors out of $9.4 million.

Travis Ford, 35, of Glenpool, pleaded guilty yesterday of one count of conspiracy to commit wire fraud in connection with his role as CEO, co-founder and head trader of Wolf Capital Crypto Trading LLC.

The purported investment company operated from January 2023 to August 2023, promoting itself through its website, social media and other internet platforms.

According to court documents, Ford falsely claimed to be a sophisticated trader capable of generating extraordinary daily returns of 1 to 2 percent, equating to an annual return of approximately 547 percent.

Ford admitted he knew such returns were unattainable, but he still promised to attract investors. He misappropriated the funds to benefit himself and his co-conspirators, leaving investors with significant financial losses.

The Department of Justice announced the plea Friday, January 10, with Principal Deputy Assistant Attorney General Brent Wible and U.S. Postal Inspection Service (USPIS) Inspector-in-Charge Eric Shen highlighting the scope of the fraudulent scheme.

Ford now faces up to five years in prison, with the sentence to be determined by a federal district court judge. The court will consider the U.S. Sentencing Guidelines and other statutory factors before issuing a final sentence.

A sentencing date has not yet been set.

The news came just two days after a federal grand jury was held in the Eastern District of Washington. charge a former pastor with 26 counts of fraud, alleging he orchestrated a cryptocurrency scheme.