• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Washington Pastor Accused of Crypto Investment Fraud

user avatar

by Giorgi Kostiuk

3 months ago


Washington pastor Francier Obando Pinilo is accused of crypto-related fraud after allegedly stealing $5.9 million from church members and others.

Fraud Allegations

Pinilo was apprehended in Miami on December 5 after being indicted by the Eastern District of Washington. He faces charges of 25 counts of wire fraud and operating an illegal money-transmitting business. If convicted, he could face up to 20 years in prison. Additionally, the Commodity Trading Commission has filed a civil lawsuit against him.

Fake Investment Promises

Pinilo promised his victims returns of up to 34.9% monthly on their investments, targeting individuals unfamiliar with the crypto industry. He promoted his schemes to church members and at public gatherings, as well as through social media platforms.

Investigation and Findings

Investigations revealed that Solano Fi had no actual investment or trading programs. Pinilo fabricated account statements to show fictitious profits. Some investors received payouts for recruiting new members, indicating a Ponzi scheme. However, when withdrawal requests began, Pinilo made various excuses to avoid repaying funds.

This case highlights the rise of crypto-related scams, posing challenges for law enforcement and demanding increased vigilance to protect honest individuals.

0

Share

Other news

Fear and Greed Index Drops: Impact of Trump's Tariffs on Crypto Market

The Fear and Greed Index fell to 25 after Trump's tariff announcement, impacting the crypto market.

user avatarGiorgi Kostiuk

9 minutes ago

Galaxy Digital Strengthens with FCA License for UK Derivatives Trading

Galaxy Digital secures FCA license for UK derivatives trading, bolstering its position in the digital asset market.

user avatarGiorgi Kostiuk

10 minutes ago

Arctic Pablo Coin: Leading Meme Coin of 2025

Arctic Pablo Coin ($APC) is a promising meme coin with a unique narrative. We explore its potential and compare it to SPX6900.

user avatarGiorgi Kostiuk

10 minutes ago

AI Brings Back Voice to Paralysis Patient After Stroke

AI restores speech to paralyzed patient, creating new avenues in medicine and communication.

user avatarGiorgi Kostiuk

10 minutes ago

Brain implants by Neuralink seek global trial participants

Elon Musk seeks quadriplegic patients for testing its brain-computer interface.

user avatarGiorgi Kostiuk

11 minutes ago

Remittix: A New Hope for Ethereum and Polygon Investors in 2025

Remittix attracts attention with its utility, raising over $14.3 million in presale.

user avatarGiorgi Kostiuk

30 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.