TLDR:
- Former pastor Francier Obando Pinillo charged by CFTC for running a $5.9 million crypto fraud scheme targeting Spanish-speaking church members
- Created fake “Solanofi platform” promising 34.9% monthly returns through non-existent leveraged staking
- Targeted 1,515 investors across multiple churches, using his position as pastor to gain trust
- Allegedly sent $4 million in digital assets to 23 private wallets in Colombia
- Operated a Ponzi scheme with fake dashboard displays and 15% referral fees for bringing in new investors
The Commodity Futures Trading Commission (CFTC) filed charges on Tuesday against former pastor Francier Obando Pinillo for allegedly orchestrating a $5.9 million cryptocurrency fraud scheme that primarily targeted Spanish-speaking church members. The lawsuit accuses Pinillo of creating a fake platform called “Solanofi” and using his position as a religious leader to gain the trust of unsuspecting investors.
According to court documents, Pinillo attracted at least 1,515 investors by promising returns of up to 34.9% monthly through what he claimed was a leveraged staking platform. The scheme operated across multiple states, with Pinillo allegedly targeting members of a Washington-based church where he served as pastor, as well as congregants at a Florida mega-church.
The CFTC’s complaint details how Pinillo specifically targeted Spanish-speaking individuals who had little to no experience with cryptocurrency or financial investments. He allegedly provided victims with access to a fraudulent online dashboard that displayed fake account balances and nonexistent profits to maintain the illusion of a legitimate operation.
To expand his reach, Pinillo implemented a referral system that offered a 15% fee to existing investors who brought in new participants. This structure, combined with the false profit displays, helped sustain what prosecutors describe as a classic Ponzi scheme, where money from new investors was used to pay earlier investors.
Of the $5.9 million collected from investors, approximately $4 million in digital assets was reportedly transferred to 23 private digital wallets believed to be located in Colombia. The CFTC alleges that these transfers were part of Pinillo’s effort to misappropriate investor funds for personal use.
The former pastor accepted various cryptocurrencies as investment, including Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu. He allegedly instructed investors to send these digital assets to wallets under his direct control.
When investors attempted to withdraw their funds, Pinillo reportedly made several false excuses. He claimed technical issues with the Solanofi platform and even blamed the bankruptcy of cryptocurrency exchange FTX for the inability to return investor money, despite never having an account with the failed exchange.
At his Washington church, the complaint describes a particularly troubling incident where a female investor desperately pleaded with Pinillo to return her investment, but her requests were ignored.
The scheme extended beyond simple cryptocurrency investments. Pinillo also announced plans to release a token called “ShekkelCoin,” which he claimed would embody Christian values. However, this token was never actually created or released.
During his presentations at churches, Pinillo allegedly combined religious messaging with financial promises. At a Florida mega-church, he reportedly lectured congregants about escaping poverty before pitching his fraudulent investment platform.
The case bears striking similarities to other recent incidents involving religious figures and cryptocurrency fraud. Earlier this year, Colorado authorities charged pastor Eligio “Eli” Regalado and his wife for allegedly raising $3.2 million through a cryptocurrency token marketed to Christians.
The CFTC’s lawsuit seeks several remedies, including full restitution to defrauded customers, disgorgement of ill-gotten gains, civil monetary penalties, and permanent trading bans. The Commission is also pursuing a permanent injunction against future violations of the Commodity Exchange Act and CFTC Regulations.
As recently as Tuesday, Pinillo appeared to address the situation on Facebook, posting in Spanish, “Never has a dark night defeated the power of a dawn,” which was followed by, “When the storms get worse, it is because the calm is about to begin.”
