U.S. Attorney Vanessa Waldref has announced that Francier Obando Pinillo, a former pastor from Miami, Florida, has been indicted on 26 counts of fraud. The charges relate to a cryptocurrency scam that allegedly defrauded investors of millions between November 2021 and October 2023. Pinillo appeared in the U.S. District Court in Richland, Washington, for arraignment.
The indictment claims that Pinillo exploited his position as a pastor at Ministerio Apostolico Profetico Tiempos de Poder in Pasco, Washington, to persuade congregation members and others to invest in "Solano Fi," a cryptocurrency business he promoted as a secure investment inspired by a dream. He purportedly used social media platforms like Facebook and Telegram to recruit over 1,500 investors, promising risk-free monthly returns of 34.9% through cryptocurrency staking.
According to the indictment, instead of investing the funds as promised, Pinillo allegedly redirected the money into accounts he controlled for personal gain. He reportedly encouraged existing investors to recruit new ones with promises of additional returns. When investors attempted to withdraw their funds, they were met with various excuses or were asked to bring new investors before receiving their money back.
U.S. Attorney Waldref emphasized the growing challenge posed by cryptocurrency scams: “Fraudulent investment schemes are not new, but cryptocurrency scams are a new way fraudsters take money from hardworking, honest people.” She highlighted the difficulty law enforcement faces when recovering funds quickly routed to international accounts.
The charges against Pinillo could result in up to 20 years in prison if convicted. The FBI conducted the investigation and Assistant United States Attorneys Dan Fruchter and Jeremy J. Kelley are handling the prosecution.
An indictment is an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in court.