Priest Transforms into Cryptocurrency Cult Leader! Utilizes Solanofi to Set up a Cryptocurrency Scam, Deceiving Thousands of Followers and Accumulating 6 Million Dollars.
Everyone wants to invest in cryptocurrencies to make a fortune, including pastors. The U.S. Commodity Futures Trading Commission (CFTC) has accused a pastor in Washington state of promoting a cryptocurrency Ponzi scheme, offering high monthly returns of nearly 35% as bait and deceiving nearly 1,500 followers, with a total scam amount of up to $6 million.
The pastor, Francier Obando Pinillo, led the “Solanofi” platform, claiming stable profits. According to the CFTC indictment, Pinillo, who goes by the title of CEO of “Solanofi” and its related companies, Solano Partners Ltd. and Solano Capital Investments, claimed that these companies had built the “Solano ecosystem” to conduct efficient trading using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and USDT, allowing customers to make substantial profits.
Pinillo assured victims that they could earn up to 34.9% monthly returns through Solanofi, and claimed that their platform utilized automated trading robots and professional software for trading. Pinillo also introduced a service called “Solanofi 2.0,” which offered cryptocurrency pledging services and promised “guaranteed profits” to victims.
Believing the promises, victims joined the multi-level marketing scheme. To increase credibility, Pinillo set up a website that allowed users to view fictional account statements and offered a referral program where users could earn 15% of the profits by recommending new members.
However, the CFTC stated that these account statements were entirely fabricated, and there were no actual trades, profits, or accounts. Pinillo actually appropriated all the cryptocurrencies and fiat assets transferred by the victims without conducting any trading activities.
The pastor used language and religious background to deceive victims. The CFTC stated that Pinillo conducted promotions in Spanish, primarily targeting the Spanish-speaking community, and used his status as a pastor to build trust and manipulate victims who lacked experience in cryptocurrency trading.
This illegal behavior has raised widespread concerns about the abuse of power by religious leaders. The CFTC, in the indictment, seeks to recover all the victims’ lost funds, confiscate illegal gains, and impose permanent trading and restraining orders on Pinillo.
Risk Warning: Investment in cryptocurrencies carries a high level of risk, and prices may fluctuate dramatically, resulting in the potential loss of all invested capital. Please carefully evaluate the risks.
