The U.S. CFTC sues Wolf Capital Crypto and its founder, alleging a fraudulent scheme that raised over $10 million from retail investors.

Techub News reports, according to Financefeeds, the U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the U.S. District Court for the Northern District of Oklahoma against Wolf Capital Crypto and its founder Travis Ford. The CFTC alleges the firm operated in a manner resembling a Ponzi scheme, promising investors a "daily 3.5%" return without supporting real trading activity, and raised over $10 million from investors. Previously, Travis Ford was sentenced to 5 years in prison for his involvement in the related Ponzi scheme and ordered to pay over $1 million in forfeiture and over $170,000 in restitution.