A Washington state pastor has been charged with 26 counts of fraud for orchestrating a sophisticated cryptocurrency investment scheme that defrauded approximately 1,500 victims of nearly $6 million between 2021 and 2023.

Francier Obando Pinillo, 51, allegedly exploited his position as a pastor in Pasco to promote “Solano Fi,” a fraudulent cryptocurrency investment platform he claimed was divinely inspired through a dream. The scheme promised investors unrealistic monthly returns of 34.9% with zero risk.

To expand his operation, Pinillo established an online presence through Facebook and created a Telegram group called ‘Multimillionarios SolanoFi,’ which attracted 1,500 members. Investors were provided access to a web application displaying fabricated account balances and returns.

The Department of Justice investigation revealed that instead of investing the cryptocurrency funds as promised, Pinillo diverted them for personal use. When investors attempted to withdraw their money, they were met with various excuses, including market conditions and technical issues. In some cases, Pinillo allegedly attempted to extort additional funds from victims by offering “repair” options or buyout opportunities.

The scheme primarily targeted Spanish-speaking church members and eventually expanded to other communities across the United States. If convicted, Pinillo faces up to 20 years in prison for each count of fraud.