Former Pasco pastor indicted for orchestrating a multi-million dollar crypto scam targeting investors

A former pastor from Pasco, Washington, has been indicted for his alleged involvement in a multi-million dollar cryptocurrency fraud scheme. The charges were announced by U.S. Attorney Vanessa Waldref, on January 8, 2025.

According to a release from the U.S. Department of Justice, Francier Obando Pinillo, 51, of Miami, Florida, was arraigned on January 12, 2025, in U.S. District Court in Richland, Washington, on 26 counts of fraud. The charges stem from a scheme that allegedly defrauded investors out of more than $34 million.

Pinillo was the pastor of Ministerio Apostolico Profetico Tiempos de Poder, a Spanish-language church in Pasco, Washington. The indictment alleges that he used his position to convince church members and others to invest in a cryptocurrency business, ‘Solano Fi.’

Solano Fi, officials with the company told investors, used cryptocurrency ‘staking’ to guarantee monthly returns of 34.9% with no risk. Investors, he said, could access and withdraw their money through an online platform.

However, the platform was fraudulent, according to the indictment. Investors had a fake balance and fake gains of their accounts but couldn’t make withdrawals.

Pinillo allegedly invested that money instead with himself and his coconspirators.

To encourage investors to go out to recruit others, he promised that shareholders would earn additional returns for every new investor.

Pinillo later said that when the victims needed to withdraw their money he made excuses. He’ll say the website was down, the market wasn’t good enough, or they need to bring in a new investor so they can buy out the account.

Victims were told by Pinillo they also needed to send more money to “repair” the system. In reality he was taking the funds of these people for himself.

If convicted of Pinillo’s charges, he faces up to 20 years in prison.

“Cryptocurrency scams have become a new way that fraudsters target honest people and steal their money,” said U.S. Attorney Waldref.

The FBI investigated the case. Assistant U.S. Attorneys Dan Fruchter and Jeremy J. Kelley are prosecuting the case.