U.S. Attorney Vanessa R. Waldref | U.S. Department of Justice
U.S. Attorney Vanessa Waldref has announced the indictment of Francier Obando Pinillo, a former pastor from Miami, Florida, on charges related to a cryptocurrency scam. The federal grand jury for the Eastern District of Washington returned the indictment on November 7, 2024. Pinillo faces 26 counts of fraud for allegedly defrauding investors out of millions between November 2021 and October 2023. He was arraigned at the U.S. District Court in Richland, Washington.
Pinillo previously served as a pastor at Ministerio Apostolico Profetico Tiempos de Poder in Pasco, Washington. According to the indictment, he used his position to persuade members of his congregation and others to invest in a cryptocurrency venture called "Solano Fi." He claimed that Solano Fi was inspired by a dream and promised it as a safe investment with guaranteed returns.
The indictment further details how Pinillo used social media platforms like Facebook and Telegram to attract investors, claiming Solano Fi offered risk-free monthly returns through cryptocurrency "staking." However, it is alleged that the online platform only displayed fraudulent balances without allowing fund withdrawals.
Instead of investing funds as promised, Pinillo allegedly converted investor money for personal use. He also encouraged investors to recruit others with promises of additional returns per referral.
When victims attempted to withdraw their investments from Solano Fi, Pinillo reportedly provided various excuses or demanded new investments before releasing funds. The indictment claims he required more money from investors under the pretense of upgrading the system.
"Fraudulent investment schemes are not new," stated U.S. Attorney Waldref. "Cryptocurrency fraudsters often quickly route funds to international accounts... My office and our partners at the FBI are committed to doing all we can to recover the proceeds."
If convicted, Pinillo could face up to 20 years in prison for each fraud charge. The case is being handled by Assistant United States Attorneys Dan Fruchter and Jeremy J. Kelley following an investigation by the FBI.
An indictment is an allegation; defendants are presumed innocent until proven guilty beyond reasonable doubt in court.
