Wolf Capital investment firm co-founder Travis Ford pleaded guilty to creating a fraudulent scheme that harmed 2,800 investors. According to investigators, he stole $9.4 million by promising clients extraordinarily high returns.
The 35-year-old Oklahoma resident “solicited investments through the Wolf Capital website and other promotional activities on social media and online”.
“Ford presented himself as an experienced trader capable of delivering daily profits of 1–2% (approximately 547% per month),” — the US Department of Justice website states.
According to the agency, the scheme operated from January to August 2023. Ford used funds raised from numerous investors for his own benefit and to enrich his accomplices, while making false promises about returns.
The Wolf Capital co-founder faces up to five years in prison.
Earlier, former Celsius chief Alex Mashinsky pleaded guilty to two of seven charges — commodities fraud and manipulation of the CEL token’s price.
He faces up to 30 years in prison. Sentencing is set for 8 April 2025.