A pastor sold his own cryptocurrency to believers, deceiving them out of $5.9 million.
A pastor from the United States faces up to 20 years in prison due to cryptocurrency fraud, with losses estimated in the millions of dollars. This information was reported by the U.S. Attorney's Office (Eastern District of Washington), as conveyed by UNN.
Details
It is noted that Francie Obando Pinillo, a 51-year-old pastor of the Pasco church in Washington state, encouraged members of his congregation to invest money in a cryptocurrency investment business. The clergyman claimed that the idea for Solano Fi (the name of his crypto project) came to him in a dream and that it was a safe and guaranteed investment.
To attract more investors beyond his parishioners, the pastor created a Facebook page for Solano Fi and a Telegram group called Multimillionarios SolanoFi, which had 1,500 subscribers.
According to the prosecutor's office, Francie Obando Pinillo directed investments to his own accounts and the accounts of other co-conspirators. The so-called investors were shown fake balances and earnings through a mobile app.
The clergyman also encouraged individuals to bring in more investors for additional profit, thereby further expanding the circle of victims.
In this way, the fraudulent clergyman deceived at least 1,500 individuals in the U.S., including members of his Spanish church, defrauding them of at least $5.9 million between 2021 and 2023.
The pastor currently faces 26 counts of financial fraud, which carries a maximum penalty of up to 20 years in prison.
Reminder
The CEO of a bank in Kansas transferred $47 million in bank funds to fake crypto wallets following a fraudulent scheme on WhatsApp. The FBI was only able to recover $8 million, and the banker was sentenced to 24 years in prison.