The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Travis Ford and Wolf Capital Crypto Trading LLC.

The CFTC complaint, submitted at the Oklahoma Northern District Court on December 19, 2025, alleges that, from approximately October 6, 2022, to at least December 10, 2024 (the “Relevant Period”), the defendants engaged in a fraudulent scheme by soliciting individuals to participate in a commodity pool in the name of Wolf Capital.

The defendants promised that Wolf Capital would pay these pool participants daily returns of one percent to three-and-a-half percent, depending on the time period, on funds deposited by pool participants. To generate the promised returns, the defendants stated they would take a portion of the deposited funds and Ford would use them to trade digital asset commodities, including bitcoin and ether, and futures, including futures on bitcoin, both via manual trading and by using various automated trading “bots.”

To encourage more deposits, the defendants created a referral system where individuals could recruit others to join their “Wolf Packs,” thereby qualifying for higher daily returns depending on the size of their Wolf Pack.

In total, participants in the Wolf Capital Pool deposited at least $10,146,714 into the Wolf Capital Pool.

The defendants misrepresented Ford’s true trading performance to Wolf Capital pool participants. The defendants incurred significant losses trading these digital asset commodities and futures.

Eventually, the defendants incurred trading losses that made it impossible to pay the promised daily returns. Ultimately Wolf Capital collapsed.

In communications to Wolf Capital pool participants, the defendants admitted that Wolf Capital sustained trading losses and that the defendants paid over $2 million in returns that were not from trading revenue but were instead from the deposits of others, in the manner of a Ponzi scheme.

The vast majority of pool participants who deposited funds with Wolf Capital have not received back even their initial deposits, and certainly not the daily returns promised to them by the defendants.

The CFTC complaint alleges that defendants continued to encourage individuals to leave their stake in the Wolf Capital smart contract, with the promise of recovering the money lost through future trading and other business ventures.

The regulator accuses the defendants of violations of certain anti-fraud and registration provisions of the Commodity Exchange Act (“Act”), 7 U.S.C. §§ 1-26, namely, Sections 4b(a)(2)(A)-(C), 4k(2), 4m(1), 4o(1)(A)-(B), and 6(c)(1) of the Act, 7 U.S.C. §§ 6b(a)(2)(A)-(C), 6k(2), 6m(1), 6o(1)(A)-(B), 9(1), and CFTC Regulation 180.1(a)(1)-(3), 17 C.F.R. § 180.1(a)(1)-(3) (2025).

The Commission seeks civil monetary penalties and remedial ancillary relief, including, but not limited to, a trading and registration ban, restitution, disgorgement, rescission, and pre- and post-judgment interest.