An Oklahoma man has admitted to his role in perpetrating a multi-million dollar Ponzi scheme through a cryptocurrency investment firm. Travis Ford, 35, from Glenpool, pleaded guilty to charges of wire fraud conspiracy related to his operations at Wolf Capital Crypto Trading LLC—a company he led as a CEO and co-founder, according to court documents discussed yesterday by the Office of Public Affairs.
From January 2023 to August 2023, Ford falsely presented himself on the firm's website and various social platforms as an seasoned trader with the capacity to generate 1-2% in returns daily. Despite his internal disbelief in these promises, he continued to lure investors into pouring money into the company. Ultimately, Wolf Capital bagged $9.4 million dollars from nearly 2,800 individuals through deceptive promises.
The hefty sum was not invested as Ford had initially promised, but rather misappropriated for the benefit of himself and his associates, swindling investors out of their hard-earned money. According to the announcement by Principal Deputy Assistant Attorney General Brent Wible and Inspector in Charge Eric Shen, Ford now faces a possible maximum sentence of five years behind bars. Details of his sentencing are pending, as the court continues to deliberate under U.S. Sentencing Guidelines and other relevant statutory factors.
The case against Ford is under the careful scrutiny of the U.S. Postal Inspection Service’s Criminal Investigation Group, which continues to investigate the extent of the fraudulent scheme. Trial Attorneys John J. Liolos and Matt Kahn from the Criminal Division’s Fraud Section are taking the lead on the prosecution.
