Oklahoma Man Gets Five-Year Sentence for $9.4M Crypto Ponzi Scheme

Travis Ford, a 36-year-old Oklahoma resident, has been sentenced to five years in prison for operating a fraudulent cryptocurrency investment scheme that defrauded 2,800 investors of $9.4 million. Ford, the co-founder and CEO of Wolf Capital, a supposed high-yield trading platform, was found guilty of conspiracy to commit wire fraud after soliciting investments via online platforms. He claimed potential returns of 1-2% per day, which he knew were not achievable. Although approximately $4 to $5 million was reportedly paid out to earlier investors, most of the investment was lost. Ford acknowledged his wrongdoing and is required to pay over $1 million in forfeiture and restitution, along with three years of supervised release following his prison term.

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