CEO of Wolf Capital Admits Guilt in a $9.4 Million Cryptocurrency Fraud Scheme
In a significant development, Alex Mashinsky, the former CEO of Celsius, has pleaded guilty to two charges: commodities fraud and price manipulation of the CEL token. The sentencing for Mashinsky is set for April 8, 2025.
The charges against Mashinsky are related to his role as CEO of Celsius and are separate from the case involving Travis Ford, a 35-year-old Oklahoma resident who has also pleaded guilty to operating a fraudulent scheme.
According to the U.S. Department of Justice statement, Mashinsky's scheme ran from January to August 2023, during which he allegedly misused investor funds for personal gain and to enrich co-conspirators. The fraudulent scheme victimized approximately 2,800 investors and could potentially result in Mashinsky facing up to 30 years in prison.
The charges against Mashinsky involve commodities fraud, and he is accused of manipulating the price of the CEL token. The exact amount of funds misused in the scheme has not been disclosed.
On the other hand, Travis Ford portrayed himself as an experienced trader capable of generating daily profits of 1-2%. False promises about profits were made as part of the scheme, which was operated through the Wolf Capital website and various promotional activities on social media and the internet.
As of late July 2025, there is no publicly available information or news coverage about the current status of Travis Ford's case after he pleaded guilty to operating a fraudulent scheme and misusing investor funds. For detailed and updated case information, checking official court records or announcements from the prosecuting authority handling the case would be necessary.
It's important to note that Mashinsky is not a co-founder of Wolf Capital, unlike Travis Ford. The case involving Mashinsky is being handled by the U.S. Department of Justice.
This development marks a significant milestone in the ongoing investigation into cryptocurrency-related fraud and is a reminder for investors to exercise caution when investing in digital assets.
The guilty plea by Alex Mashinsky, former CEO of Celsius, encompasses commodities fraud and price manipulation of the CEL token, implicating him in a financial business scandal. In a separate case, Travis Ford, an Oklahoma resident, also pleaded guilty to operating a fraudulent scheme, misusing investor funds in the realm of crime-and-justice, though the exact status and details of his case are currently unclear.
