U.S. Department of Justice: Wolf Capital founder sentenced to 5 years in prison and ordered to pay $1.17 million in restitution for $9.4 million Ponzi scheme

Foresight News: The U.S. Department of Justice has announced that Travis Ford, founder of the crypto investment company Wolf Capital Crypto, has been sentenced to five years in prison for running a Ponzi scheme that defrauded investors of $9.4 million. He has also been ordered to pay over $1 million in forfeiture and more than $170,000 in restitution. From January 2023 to August 2023, the company raised $9.4 million from approximately 2,800 investors. Ford and his co-conspirators allegedly made false promises to induce the public to invest in the company. Subsequently, Ford misappropriated and transferred investors' funds for personal gain, harming the interests of investors. In January 2025, Ford pleaded guilty to one count of conspiracy to commit wire fraud.