Pastor Charged in Crypto Ponzi Scheme Faces Trial
A U.S. pastor is set to stand trial for operating Washington state’s largest Ponzi scheme, built on promises of quick cryptocurrency profits. He faces up to 20 years in prison.
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The case of Obando Pinillo, a pastor accused of orchestrating a multi-million-dollar cryptocurrency scam, is a sobering reminder that even religious faith can be manipulated for personal gain.
Pinillo, a pastor at a Spanish-language church in Pasco, Washington, reportedly persuaded over 1,500 members of his congregation to invest their savings in his cryptocurrency platform, Solano Fi. Prosecutors allege that Pinillo claimed the idea for the project came to him in a divine dream, promising his followers that God blessed it. He also guaranteed investors a 35% monthly return on their investments.
On December 10, 2024, the U.S. Commodity Futures Trading Commission (CFTC) formally charged Pastor Obando Pinillo with operating Solano Fi as a Ponzi scheme. According to the complaint, the platform used funds from new investors to pay returns to earlier participants, creating the illusion of profitability and stability. When the flow of new investments dried up, the scheme collapsed, leaving investors who had trusted Pinillo with significant financial losses.
The CFTC filing states: “Pinillo, individually and doing business as the Solanofi entities, mainly targeted Spanish-speaking customers who had little to no experience or understanding in digital asset transactions or commodity interest trading.”
Victims of the scheme reportedly lost a combined $5.9 million.
Fraudsters have long exploited religious authority to manipulate the faith and trust of their followers, and Pinillo appears to have leaned heavily on this approach. By presenting Solano Fi as more than a financial opportunity—framing it as a divinely inspired mission—he convinced many to invest their savings.
The charges against Pinillo are significant. If found guilty on all 25 counts, he faces up to 20 years in prison.
Related: Religions and Blockchain: A Surprising Connection
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