An Oklahoma man, Travis Ford, has admitted to orchestrating a cryptocurrency investment fraud scheme that defrauded nearly 2,800 investors of $9.4 million.
Ford, 35, from Glenpool, pleaded guilty to one count of conspiracy to commit wire fraud, a charge carrying a potential five-year prison sentence.
According to the report, Ford served as CEO and head trader of Wolf Capital Crypto Trading LLC, a company he used to lure investors between January and August 2023. Promoting the firm as a high-return cryptocurrency investment platform, Ford falsely claimed he could generate returns of up to 2% daily, equivalent to an annual gain of 547%. Court documents reveal that Ford never believed such returns were achievable and made the claims solely to attract investors.
Instead of trading funds as promised, Ford misappropriated the money for personal gain, causing significant financial losses to investors. Federal prosecutors emphasized that Wolf Capital operated as a fraudulent enterprise from the outset.
The U.S. Postal Inspection Service (USPIS) led the investigation, with Principal Deputy Assistant Attorney General Brent Wible commending their efforts. Trial Attorneys John J. Liolos and Matt Kahn are prosecuting the case. Ford’s sentencing date is yet to be announced.
Meanwhile, authorities in Limassol, Cyprus, are probing a crypto scam where a 50-year-old man lost over $58,000 to a fraudulent trading platform. Designed to mimic legitimate platforms with professional tools and fake profit dashboards, the site misled the victim into believing his investments were growing. When he tried to withdraw his funds, scammers blocked the transaction and demanded additional fees in an advance-fee fraud scheme.
Similarly, in Vietnam, police in Hanoi dismantled a large-scale crypto scam involving a fake token called “Quantum Financial System (QFS).” The fraudsters lured over 300 victims with promises of interest-free funding and exclusive financial opportunities, persuading them to invest between 4–39 million dong ($190–$1,350) during elaborate promotional events. Authorities successfully intervened, preventing nearly 30 billion dong ($1.17 million) in potential losses. Both cases highlight the global rise in sophisticated crypto fraud and ongoing efforts to combat it.
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