- Former pastor Francier Obando Pinillo faces CFTC lawsuit over alleged $5.9 million cryptocurrency fraud scheme.
- Pinillo targeted Spanish-speaking church members with false promises of 34.9% monthly returns through fake “Solanofi platform.”
- Approximately $4 million in digital assets were transferred to 23 private wallets believed to be in Colombia.
- The scheme affected 1,500 investors across multiple states, including Washington and Florida.
- Pinillo falsely claimed investor funds were lost in FTX‘s bankruptcy despite never having an account there.
CFTC Files Charges in $5.9M Cryptocurrency Church Scheme
The Commodity Futures Trading Commission filed charges Tuesday against former pastor Francier Obando Pinillo for allegedly operating a fraudulent cryptocurrency investment scheme that targeted church communities and collected $5.9 million from approximately 1,500 investors.
Religious Trust Exploited
According to the CFTC complaint, Pinillo marketed a fictitious "Solanofi platform" that promised returns of up to 34.9% monthly through leveraged staking operations. Staking, a legitimate cryptocurrency practice where users lock up assets to support network operations, was never implemented in Pinillo’s operation.
The investigation revealed that Pinillo specifically targeted Spanish-speaking congregation members, presenting himself as a trustworthy religious authority while conducting promotional lectures at churches in Washington and Florida. He allegedly created false dashboard interfaces showing fabricated profits and implemented a pyramid-style referral system to attract new investors.
Asset Diversion and False Claims
The CFTC alleges Pinillo directed investors to transfer multiple cryptocurrencies, including:
Investigators traced approximately $4 million in digital assets to 23 private wallets suspected to be located in Colombia. When investors attempted to withdraw funds, Pinillo allegedly provided false explanations, including claims about losses in the FTX bankruptcy, despite never maintaining an account with the failed exchange.
In a Tuesday Facebook post, Pinillo wrote in Spanish, "Never has a dark night defeated the power of a dawn. When the storms get worse, it is because the calm is about to begin."
The case parallels recent cryptocurrency fraud allegations involving religious figures, including Colorado pastor Eligio Regalado’s INDXcoin project and the controversy surrounding the Smoking Chicken Fish token’s religious elements.
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