The Commodity Futures Trading Commission sued a cryptocurrency investment firm and its founder, alleging they ran a fraudulent Ponzi-like scheme that promised daily returns up to 3.5% while violating federal commodity trading laws.
Carrying out their scheme from October 2022 to December 2024, Travis Ford and Wolf Capital Crypto Trading LLC collected over $10 million from more than 3,000 investors who deposited funds into smart contracts, according to the CFTC’s complaint filed Friday in the US District Court for the Northern District of Oklahoma.
Ford misrepresented his trading experience, falsely claimed transparency in trading operations, and used new investor deposits …
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