Travis Ford Sentenced for Crypto Ponzi Scheme
Travis Ford, founder of Wolf Capital Crypto Trading LLC, was sentenced to five years in federal prison. He pleaded guilty to conspiracy to commit wire fraud. Ford defrauded about 2,800 investors of $9.4 million.
Ford promised investors daily returns of 1–2%, equaling 547% annually. He admitted in court that such consistent returns were not achievable. Ford was ordered to pay over $1 million in forfeiture and more than $170,000 in restitution.
Details of the Fraud and Investigation
Ford operated Wolf Capital from January to August 2023. He promoted the scheme using the firm’s website and social media. Investors were misled by false promises of high profits.
The case is prosecuted by Trial Attorney John J. Liolos from the Justice Department’s Fraud Section. The U.S. Postal Inspection Service is investigating the matter. Acting Assistant Attorney Matthew R. Galeotti and USPIS Inspector Eric Shen announced the sentencing.
Federal Crackdown on Crypto Ponzi Schemes
This case highlights federal efforts to fight crypto-based Ponzi schemes. Authorities continue to target individuals exploiting investors with unrealistic returns. Further actions against co-conspirators may follow.
The sentence serves as a warning about the legal risks of running fraudulent investment schemes. It emphasizes that fraudsters face prison time and financial penalties for deceiving investors.
