United States Attorney David Metcalf announced that Henry Ford, also known as Cleothus Lefty Jackson, 51, from Port St. Lucie, Florida, has pleaded guilty to securities fraud and seven counts of wire fraud. The plea was entered before United States District Court Judge Joel H. Slomsky.
Court documents reveal that Ford founded Fallcatcher, a business intended to develop an electronic system for tracking medication use among addiction recovery patients to prevent relapse. In May 2018, with the company running low on funds, Ford sought additional investors through an acquaintance in the Eastern District of Pennsylvania who had access to a network of potential investors.
Ford provided this acquaintance with false and misleading information about Fallcatcher's investment proposal. This information was then distributed within the investor network. Additionally, Ford made presentations in Pennsylvania and New Jersey where he misled potential investors by showing them a fraudulent letter of interest purportedly from a major insurance company.
These efforts resulted in approximately 50 investors contributing around $5 million to Fallcatcher.
The Securities & Exchange Commission (SEC) began investigating Fallcatcher in 2018. During the investigation, Ford attempted to conceal his fraudulent activities by producing falsified emails to the SEC that supported his earlier deceptions.
Henry Ford is scheduled for sentencing on August 14, 2025. The FBI investigated the case which is being prosecuted by Assistant United States Attorneys Patrick J. Murray and Francis A. Weber. The SEC’s New York Regional Office conducted investigations and litigated civil securities fraud charges forming part of the criminal prosecution.