PANews reported on January 11 that an Oklahoma man pleaded guilty for his involvement in a cryptocurrency investment fraud conspiracy, according to an announcement released by the U.S. Department of Justice. According to court documents, Travis Ford, 35, of Glenpool, is the CEO, co-founder and chief trader of Wolf Capital Crypto Trading LLC (Wolf Capital), a so-called cryptocurrency investment company. From January 2023 to August 2023, Ford solicited investments through Wolf Capital's website and other social media and Internet-based promotions. Ford claimed to be a sophisticated trader who could bring high returns of 1-2% per day (about 547% per year). Ford admitted that he did not believe that the promised investment returns could be achieved continuously. Ford made such false promises to induce the public to invest in the company. Ford misappropriated and transferred investor funds to benefit himself and his accomplices, damaging the economic interests of investors. Wolf Capital raised $9.4 million from approximately 2,800 investors through fraudulent activities.

Ford pleaded guilty to one count of conspiracy to commit wire fraud, which carries a maximum sentence of five years in prison. A sentencing date has not yet been set. A federal district court judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors.