{"id":7328,"date":"2025-01-13T10:17:28","date_gmt":"2025-01-13T10:17:28","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7328"},"modified":"2025-01-13T10:17:28","modified_gmt":"2025-01-13T10:17:28","slug":"pastor-indicted-for-25m-crypto-fraud-claims-scheme-came-in-a-dream","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7328","title":{"rendered":"Pastor Indicted For $25M Crypto Fraud, Claims Scheme Came \u2018In A Dream\u2019"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">A pastor in Washington state has been indicted on 26 counts of fraud, accused of orchestrating a $25 million cryptocurrency scheme that defrauded over 1,500 investors. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Francier<\/span><span data-preserver-spaces=\"true\"> Obando Pinillo, 51, allegedly used his position as a pastor to lure congregants into the fraudulent venture, Solano Fi. He claims the idea came to him \u201cin a dream,\u201d according to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.justice.gov\/usao-edwa\/pr\/former-tri-cities-pastor-indicted-multi-million-dollar-cryptocurrency-scam\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the US Department of Justice<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The indictment, announced on 9 January 202, outlines how Pinillo promoted Solano Fi as a safe, guaranteed investment. Prosecutors allege he persuaded members of his Spanish-language church in Pasco, Washington, to invest, leveraging his pastoral role to gain their trust.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/buy-bitcoin\/anonymously-without-id\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Buying and Using Bitcoin Anonymously \/ Without ID<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Pinillo Used Social Media Platforms To Expand Reach<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Pinillo also reportedly expanded his reach through social media platforms. This includes a Facebook page and the Telegram group \u201cMultimillionarios SolanoFi,\u201d which had over 1,500 members.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Solano Fi, active from November 2021 to October 2023, purportedly traded Bitcoin, Ether, and other cryptocurrencies while staking tokens to deliver \u201crisk-free\u201d monthly returns of up to 35%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Prosecutors claim Pinillo showed investors fraudulent account balances on Solano Fi\u2019s website to give the illusion of profitability. However, when investors sought to withdraw their funds, they were reportedly met with excuses, such as waiting for market improvements or finding new investors to \u201cbuy out\u201d their accounts.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Pastor turned crypto scammer charged with 26 counts of fraud:<\/p>\n<p>Allegedly ran a $28M scheme, promising investors big returns while misusing funds for luxury living.<\/p>\n<p>His &#8220;Faith Token&#8221;? <\/p>\n<p>More like false hope. Justice incoming. <a href=\"https:\/\/t.co\/cCA7KXu9Xm\">pic.twitter.com\/cCA7KXu9Xm<\/a><\/p>\n<p>\u2014 \u20bfitcody <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f4c8.png\" alt=\"\ud83d\udcc8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@bitcodyy) <a href=\"https:\/\/twitter.com\/bitcodyy\/status\/1878682854642892829?ref_src=twsrc%5Etfw\">January 13, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Further allegations suggest the scheme incentivized participants to recruit others with promises of additional returns, a hallmark of pyramid schemes. Meanwhile, Pinillo and his associates are accused of misappropriating investor funds for personal gain.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a parallel case, the Commodity Futures Trading Commission filed a civil lawsuit in December, alleging Pinillo embezzled $6 million from the scheme. <\/span><span data-preserver-spaces=\"true\">The Justice Department stated that Pinillo could face up to 20 years in prison <\/span><span data-preserver-spaces=\"true\">if convicted<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFraudulent investment schemes are not new, but cryptocurrency scams are a new way fraudsters take money from hardworking, honest people,\u201d said U.S. Attorney Waldref. <\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cCryptocurrency\u00a0fraudsters often quickly route funds to international accounts, which presents new challenges for law enforcement attempting to recover lost funds.\u201d<\/span><\/p>\n<\/blockquote>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">9 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Canadian \u201cCrypto King\u201d Arrested for Fraud<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The recent warning from the SEC comes as regulatory agencies <\/span><span data-preserver-spaces=\"true\">around the world<\/span><span data-preserver-spaces=\"true\"> are trying to tackle crypto-related scams.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In May last year, two Canadian men, Aiden Pleterski and Colin Murphy,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/canadian-crypto-king-arrested-for-30-million-fraud\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">were arrested and charged<\/span><\/a><span data-preserver-spaces=\"true\"> with fraud. This was <\/span><span data-preserver-spaces=\"true\">in connection<\/span><span data-preserver-spaces=\"true\"> with an alleged crypto and foreign exchange investment scheme that swindled investors out of <\/span><span data-preserver-spaces=\"true\">$40 million CAD<\/span><span data-preserver-spaces=\"true\"> (approximately $30 million).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In another similar incident, Chinese authorities\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/china-uncovers-a-300-million-crypto-fraud-arrests-six\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">knocked down an illegal operation<\/span><\/a><span data-preserver-spaces=\"true\"> involving underground banks and virtual currencies. It exposed a staggering $300 million crypto fraud. The investigation led to the arrest of six individuals suspected of engaging in criminal activities related to money laundering between China and South Korea.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/300-million-exploit-japans-dmm-bitcoin-exchange-suffers-largest-hack-of-2024\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">$300 Million Exploit: Japan\u2019s DMM Bitcoin Exchange Suffers Largest Hack Of 2024<\/span><\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/pastor-indicted-for-25m-crypto-fraud-claims-scheme-came-in-a-dream\/\">Pastor Indicted For $25M Crypto Fraud, Claims Scheme Came \u2018In A Dream\u2019<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A pastor in Washington state has been indicted on 26 counts of fraud, accused of orchestrating a $25 million cryptocurrency scheme that defrauded over 1,500 investors. Francier Obando Pinillo, 51, allegedly used his position as a pastor to lure congregants into the fraudulent venture, Solano Fi. He claims the idea came to him \u201cin a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7328","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7328"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7328\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}