United States Attorney David Metcalf announced that Henry Ford, also known as Cleothus Lefty Jackson, has pleaded guilty to securities fraud and wire fraud. The 51-year-old from Port St. Lucie, Florida, entered his plea before United States District Court Judge Joel H. Slomsky.
Court documents reveal that Ford founded a business named Fallcatcher, which aimed to develop an electronic system for tracking medication use by addiction recovery patients. In May 2018, seeking more investors for the financially struggling company, Ford provided false information about the investment proposal to an acquaintance in Pennsylvania who had access to potential investors.
Ford made presentations in Pennsylvania and New Jersey to these potential investors and presented them with a fraudulent letter of interest falsely indicating a major insurance company's involvement. He further distributed misleading statements through his acquaintance.
These actions led approximately 50 investors to invest around $5 million in Fallcatcher. The Securities & Exchange Commission (SEC) began investigating Fallcatcher in 2018. During this investigation, Ford attempted to conceal his fraudulent activities by providing fabricated documents through his counsel.
Ford is scheduled for sentencing on August 14, 2025. The FBI investigated the case while Assistant United States Attorneys Patrick J. Murray and Francis A. Weber are prosecuting it. The SEC’s New York Regional Office handled the civil securities fraud charges related to this criminal prosecution.
