- Feb 5, 2002
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The Commodity Futures Trading Commission is seeking to claw back nearly $6 million plus penalties from a Washington state pastor accused of tricking more than 1,500 Hispanic individuals, including members of his own church, into investing in a fraudulent cryptocurrency scam authorities have described as a Ponzi scheme.
A civil enforcement complaint filed by the CFTC in the District Court for the Eastern District of Washington on Monday alleges that former pastor Francier Obando Pinillo, doing business as Solanofi, Solano Partners Ltd., and Solano Capital Investments — collectively Solanofi entities — targeted at least 1,515 “unsophisticated” victims with his scheme that ran from at least Nov. 1, 2021, to Dec. 31, 2023.
“Throughout the Relevant Period, defendant targeted unsophisticated customers who had little to no experience in digital asset transactions or commodity interest trading, and who were unfamiliar with how an investment in staking digital assets occurred,” the agency explained. “Defendant’s solicitations were almost exclusively in Spanish, which permitted him to abuse his position of trust as a pastor at a church in Pasco, Washington, to attract customers who were congregants of that primarily Spanish-speaking church.”
Continued below.
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A civil enforcement complaint filed by the CFTC in the District Court for the Eastern District of Washington on Monday alleges that former pastor Francier Obando Pinillo, doing business as Solanofi, Solano Partners Ltd., and Solano Capital Investments — collectively Solanofi entities — targeted at least 1,515 “unsophisticated” victims with his scheme that ran from at least Nov. 1, 2021, to Dec. 31, 2023.
“Throughout the Relevant Period, defendant targeted unsophisticated customers who had little to no experience in digital asset transactions or commodity interest trading, and who were unfamiliar with how an investment in staking digital assets occurred,” the agency explained. “Defendant’s solicitations were almost exclusively in Spanish, which permitted him to abuse his position of trust as a pastor at a church in Pasco, Washington, to attract customers who were congregants of that primarily Spanish-speaking church.”
Continued below.
Pastor sued for promoting $6M crypto Ponzi scheme to congregants
The Commodity Futures Trading Commission is seeking to claw back nearly 6 million plus penalties from a Washington state pastor accused of tricking more than 1,500 Hispanic individuals, including
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