North Texas Man Convicted of Conspiracy and Wire Fraud in Cryptocurrency Mining Scheme
Nov 19, 2025 · Sourced to the U.S. Department of Justice
A federal jury in Fort Worth convicted Caleb Ward, founder of Geosyn Mining, LLC, on Monday this week of a multi-million-dollar cryptocurrency mining investment fraud that victimized dozens of clients across the United States.
Defendants
- Caleb Ward — age 41 · North Texas · convicted
Charges
Conspiracy to commit wire fraud
Max: 20 years in prisonCaleb Ward· convicted
Wire fraud (three counts)
Max: 20 years in prisonCaleb Ward· convicted
From the announcement
“This defendant targeted and preyed on North Texas residents who simply wanted to invest in emerging cryptocurrency technology. I'm proud of the trial team for this great result. Our Office will continue holding accountable those who prey on Main Street investors.”
“This conviction demonstrates the FBI's commitment to identifying and investigating perpetrators of fraud who use investor funds for their own personal gain. We encourage the public to thoroughly research investment opportunities and to contact us immediately if they suspect fraudulent activity,”
Investigating agencies
Case details
- Prosecuting office
- Northern District of Texas
- Judge
- Mark T. Pittman, U.S. District Judge
- Assets
- Bitcoin
Primary source
Every fact above is drawn from the Department of Justice's own announcement — a public-domain government record.
Read the original DOJ release →This is a research and reference page compiled from public DOJ announcements, not legal advice. Details reflect the government's statements as of its release date and may not capture later developments such as appeals, dismissals, or overturned convictions. Defendants are presumed innocent unless and until proven guilty.