The U.S. CFTC has filed a civil enforcement lawsuit against Wolf Capital and its founders.
TL;DR
The U.S. CFTC has sued Wolf Capital Crypto and its founder Travis Ford for a fraudulent investment scheme that raised over $10 million, alleging a Ponzi structure with no real trading. Ford was previously sentenced to five years in prison for related fraud.
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According to Financefeeds, Foresight News reports that the U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement lawsuit against cryptocurrency investment firm Wolf Capital Crypto and its founder Travis Ford, accusing them of operating a fraudulent investment scheme that raised over $10 million from retail investors. The lawsuit, filed in the U.S. District Court for the Northern District of Oklahoma, alleges that the company employed a Ponzi scheme structure, promising daily returns without any actual trading activity.
According to a previous report by Foresight News , the U.S. Department of Justice announced that Travis Ford, founder of Wolf Capital Crypto, was sentenced to five years in prison for defrauding investors through a Ponzi scheme and ordered to pay more than $1 million in forfeitures and more than $170,000 in restitution.