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U.S. Department of Justice: Wolf Capital founder sentenced to 5 years in prison and ordered to pay $1.17 million for $9.4 million Ponzi Scheme.
Foresight News reports that the U.S. Department of Justice announced that Travis Ford, the founder of the cryptocurrency investment firm Wolf Capital Crypto, has been sentenced to five years in prison for defrauding investors out of $9.4 million in a Ponzi Scheme, and has been ordered to pay over $1 million in forfeiture and more than $170,000 in restitution. The company raised $9.4 million from approximately 2,800 investors from January 2023 to August 2023, and Ford and his accomplices are accused of making false promises to lure the public into investing in the company. Subsequently, Ford misappropriated and transferred investors' funds for personal gain, harming the interests of the investors. In January 2025, Ford pleaded guilty to one count of conspiracy to commit wire fraud.