Wolf Capital co-founder pleads guilty to $9.4M Ponzi, promised 547% returns
According to the US Department of Justice, Wolf Capital’s co-founder has pleaded guilty to wire fraud conspiracy for luring 2,800 crypto investors into a Ponzi scheme.
The co-founder and head trader of a cryptocurrency investment firm has pleaded guilty to wire fraud conspiracy charges for his role in raising over $9 million from investors with false promises of significantly high returns.
Wolf Capital co-founder and head trader Travis Ford lured in around 2,800 investors to invest approximately $9.4 million between January and August 2023, as per a Jan. 10 statement published by the United States Department of Justice (DOJ).
The DOJ said Ford presented himself as a “sophisticated investor” capable of generating “1-2%” daily returns, equating to an average of approximately 547% annually.
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Author: Ciaran Lyons
