An Oklahoma man has been sentenced to five years in prison for leading a $9.4 million cryptocurrency investment fraud scheme.
Travis Ford, 36, CEO and co-founder of Wolf Capital Crypto Trading LLC, promised investors exaggerated returns of 1%-2% per day.
Prosecutors said Ford knew these returns could not be consistently achieved and misappropriated investor funds for personal gain.
Ford raised money in 2023 from around 2,800 investors through the company’s website and social media platforms.
At one point, he attempted to reassure investors by claiming their funds were safe, stating in a court filing: “[E]verything is safe and I will prove it in the morning to stop all the BS FUD [Fear, Uncertainty, and Doubt].”
In addition to prison, Ford was ordered to pay $1 million in forfeiture and over $170,000 in restitution, the Department of Justice said.
Prosecutors described the scheme as intentionally misleading investors for the benefit of Ford and his co-conspirators.
