Former Pasco Pastor Indicted in Multi-Million Dollar Crypto Scam
Former Pastor Francier Obando Pinillo of Pasco, Washington, finds himself at the center of a multi-million dollar cryptocurrency fraud scheme that has shocked investors and authorities alike. U.S. Attorney Vanessa Waldref announced the charges on January 8, 2025, accusing Pinillo of orchestrating a fraudulent scheme that spanned from November 2021 to October 2023.
How the Scam Unfolded
Pinillo allegedly misled investors by convincing them to put their money into a cryptocurrency venture called ‘Solano Fi.’ Under the guise of a safe and guaranteed investment opportunity, Pinillo used his position as the pastor of Ministerio Apostolico Profetico Tiempos de Poder to persuade church members and others to invest in the scheme. Claiming that the idea for Solano Fi came to him in a dream, Pinillo promised investors monthly returns of 34.9% with no risk through cryptocurrency ‘staking.’
The Deceptive Tactics
To lure in unsuspecting victims, Pinillo utilized social media platforms like Facebook and Telegram, creating a group named “Multimillionarios SolanoFi” with over 1,500 followers. Within this group, officials allegedly propagated false information about Solano Fi’s operations, leading investors to believe they could access and withdraw their funds through an online platform. However, the reality was far from the truth, as the platform was a facade with fake balances and gains.
The Consequences and Legal Ramifications
As the scheme unraveled, Pinillo resorted to desperate measures to keep investors at bay, requesting additional funds under the pretense of ‘repairing’ the system. Ultimately, it was revealed that Pinillo had siphoned off investors’ money for personal gain, leaving many in financial ruin. If convicted of the 26 counts of fraud, Pinillo could face up to 20 years in prison for his deceitful actions.
In a world where cryptocurrency scams have become a prevalent threat, U.S. Attorney Waldref emphasized the importance of vigilance in financial dealings. The diligent efforts of the FBI in investigating this case, along with the prosecution led by Assistant U.S. Attorneys Dan Fruchter and Jeremy J. Kelley, serve as a stark reminder of the consequences of falling victim to fraudulent schemes. As investors navigate the complex landscape of digital assets, it is crucial to exercise caution and conduct thorough due diligence to safeguard against potential scams and financial losses.