US CFTC files civil enforcement action against Wolf Capital and its founder

Foresight News reported, according to Financefeeds, that the U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement lawsuit against crypto investment firm Wolf Capital Crypto and its founder Travis Ford, accusing them of operating a fraudulent investment scheme and raising over $10 million from retail investors. The lawsuit has been submitted to the U.S. District Court for the Northern District of Oklahoma, and the complaint states that the company operated a Ponzi scheme structure, with promised daily returns not backed by any actual trading activity.

According to a previous report by Foresight News, the U.S. Department of Justice announced that Wolf Capital Crypto founder Travis Ford has been sentenced to five years in prison for defrauding investors in a Ponzi scheme, and has been ordered to pay over $1 million in forfeiture and more than $170,000 in restitution.