Florida Pastor Charged in Multimillion-Dollar Crypto Scam—Facing 26 Fraud Counts!
A Florida pastor allegedly used his church to pull off a massive crypto scam, promising fake returns and swindling victims out of millions. 🌐 #News #MiamiFL #Florida #Crime
MIAMI, FL – A Florida pastor is now facing serious legal consequences after allegedly orchestrating a massive cryptocurrency scam that defrauded victims of millions of dollars. Francier Obando Pinillo, 51, of Miami, is a former pastor at a Spanish-language church in Washington state. He was indicted on 26 counts of fraud, accused of using his religious position to lure individuals into a fake crypto investment scheme that promised huge, risk-free returns. Pinillo’s arrest brings attention to how scammers are exploiting cryptocurrency to target unsuspecting investors, and his case could serve as a warning for others.
The Alleged Scheme: How the Scam Worked
Pinillo’s fraudulent activities date back to November 2021, when he reportedly began soliciting investments in a cryptocurrency business called Solano Fi.
According to the indictment, Pinillo claimed that the idea for the business came to him in a dream and that it would offer a safe and guaranteed investment.
He promised investors a monthly return of 34.9% through a process known as cryptocurrency “staking”—all with no risk.
Using his position at the Ministerio Apostolico Profetico Tiempos de Poder church in Pasco, Washington, Pinillo convinced congregants and others to pour their money into the scam.
To further recruit victims, Pinillo took to social media and launched a Telegram group titled “Multimillionarios SolanoFi,” which quickly amassed more than 1,500 members. The group was used as a platform to promote the fraudulent investment scheme.
Pinillo’s Fraudulent Tactics and Victim Exploitation
Once investors transferred their funds, Pinillo allegedly used a fake app that allowed users to view supposed balances and gains, making it look like their investments were growing. However, the app did not actually allow them to withdraw any of their funds.
Instead, Pinillo directed victims to send cryptocurrency to accounts he personally controlled. Once he had the funds, he transferred them to himself and his co-conspirators.
When victims tried to retrieve their investments, they were met with a series of excuses. Pinillo allegedly claimed the cryptocurrency market needed to improve before he could return their funds, or he told them the app or website was temporarily down.
In some cases, Pinillo insisted that victims bring in new investors to “buy out” their accounts. He also reportedly pressured victims to send more money to “repair” the system before they could withdraw their original investments.
The Legal Response and Potential Consequences
On November 7, 2024, a federal grand jury indicted Pinillo on 26 counts of fraud related to the Solano Fi scam. If convicted on all charges, Pinillo faces up to 20 years in federal prison for each count of fraud.
The U.S. Attorney’s Office for the Eastern District of Washington has made it clear that they are committed to recovering the funds and holding those responsible accountable for their actions.
“Fraudulent investment schemes are not new, but cryptocurrency scams are a new way fraudsters take money from hardworking, honest people,” U.S. Attorney Vanessa Waldref said in a statement.
“Cryptocurrency fraudsters often quickly route funds to international accounts, which presents new challenges for law enforcement attempting to recover lost funds. My office and our partners at the FBI are committed to doing all we can to recover the proceeds of these frauds for victims and to hold the people running these scams accountable.”
As the case unfolds, authorities are working to address the unique challenges posed by cryptocurrency-related fraud and the international nature of the transactions involved.
RELATED TOPICS: Crime | Florida | Scams | Washington
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So Sad to read this news we are part of that group of victims. We have been waiting and now this. Is their more information about what we can do, or each person has to summit a Lawsuit?
Hi Lynette! Thanks for reading, so sorry to hear you are one of his victims. We believe the U.S. Attorney’s Office for the Eastern District of Washington is handling this case and we recommend contacting them directly (https://www.justice.gov/usao-edwa). Unfortunately, we can’t offer legal advice but contacting them should help. We are lifting you up in prayers! Take care, Jack and Kitty
Thank youi