Francier Obando Pinillo, a pastor from Pasco, Washington, has been indicted on 26 counts of fraud for allegedly defrauding over 1,500 investors through a cryptocurrency scheme called Solona Fi.

Using his position as a pastor at a Spanish-language church, Pinillo recruited investors through social media platforms, including a Facebook page and a Telegram group.

Pinillo claimed that the concept for Solona Fi came to him in a dream and marketed it as a safe investment with guaranteed returns.

He allegedly promised investors a risk-free 35% return on investments, claiming that Solona Fi could trade and stake cryptocurrencies like Bitcoin and Ether.

Investors reported seeing fraudulent account balances on the Solona Fi website but were prevented from withdrawing their funds under various pretexts.

Many victims were misled into believing they needed to wait for market improvements or recruit new investors to access their funds, a tactic reminiscent of pyramid schemes.

In December 2024, the Commodity Futures Trading Commission filed a lawsuit against Pinillo, alleging he stole $6 million from investors.

Washington US Attorney Vanessa Waldref highlighted her office's commitment to recovering stolen funds, despite the challenges of tracing cryptocurrency assets.

The fraudulent operation of Solona Fi reportedly spanned from November 2021 to October 2023.

The indictment was announced by the Justice Department on January 9, 2025, following Pinillo's arraignment in federal court.