A pastor in Washington state allegedly used his pulpit to run a massive cryptocurrency scam, defrauding his own congregation and others. This isn’t your typical online crypto scam; it involved a pastor, dreams, and a hefty dose of deception.
A Dream Turned Nightmare
Francier Obando Pinillo, a 51-year-old pastor from Miami, was charged with 26 counts of fraud. He allegedly ran a scheme called “Solano Fi” from November 2021 to October 2023, costing investors millions. The bizarre twist? Pinillo claimed the idea for the investment came to him in a dream.
Exploiting Faith for Profit
Pinillo leveraged his position as pastor of the Ministerio Apostólico Profético Tiempos de Poder in Pasco, Washington, to convince his Spanish-speaking congregation to invest. He promised incredibly high returns – a monthly payout of 34.9%! To reach a wider audience, he used social media, creating a Telegram group with over 1,500 members and a Facebook page for Solano Fi.
The Ponzi Scheme Unveiled
The Solano Fi investment turned out to be a classic Ponzi scheme. Instead of investing the funds, Pinillo and his accomplices allegedly diverted the money into their personal accounts. To lure more investors, he even offered a 15% referral bonus, fueling the fraudulent cycle. An online platform, designed to track investments, only displayed fake balances and prevented withdrawals. When investors requested their money, they were given excuses like website malfunctions or a “bearish” crypto market. Some were even told they could only get their money back by bringing in new investors.
The Aftermath
The authorities uncovered the scam, and Pinillo faces up to 20 years in prison if convicted. This case serves as a stark reminder that scammers can come from anywhere, exploiting trust and faith for personal gain.
