An Oklahoma man pleaded guilty Thursday for his role in a cryptocurrency investment fraud conspiracy.
According to court documents, Travis Ford, 35, of Glenpool, was the CEO, co-founder, and head trader of Wolf Capital Crypto Trading LLC (Wolf Capital), a purported cryptocurrency investment firm. From January 2023 through August 2023, Ford solicited investments through Wolf Capital’s website and other social media and internet-based promotion activities.
Ford held himself out as a sophisticated trader able to deliver high returns of one to two per cent per day (approximately 547 per cent per year). Ford admitted that he did not believe those promised investment returns were possible to achieve consistently.
Ford made such false promises to induce members of the public to invest money in the company. Ford misappropriated and diverted investor funds to benefit himself and his co-conspirators to the financial detriment of investors.
In total, Wolf Capital raised $9.4 million from approximately 2,800 investors through fraudulent conduct.
Ford pleaded guilty to one count of conspiracy to commit wire fraud, for which he faces a maximum penalty of five years in prison.
A sentencing date has not yet been set. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
