Blind faith. Cryptocurrency is a rapidly growing sector. It therefore attracts, like any digital Eldorado, its share of fraudsters looking for easy prey. In this case, all methods are good to try to rid naive investors of their precious crypto. Therefore, vigilance is necessary. Because even a pastor can hide behind a $6 million Ponzi scheme, as shown by this case uncovered by the United States CFTC.
- The pastor was charged by the United States CFTC with organizing a Ponzi scheme in the cryptocurrency sector.
- Francier Obando Pinillo allegedly embezzled $6 million using fictitious trading and betting platforms for Bitcoin and other popular cryptocurrencies.
A pastor at the head of a crypto Ponzi
Fraud in the sector cryptocurrencies they are a very real plague. Even more withthe rise of artificial intelligence (AI) which make it possible to multiply attempts using increasingly effective tools.
But some cases still remain very artisanal. Like this for example Ponzi scheme scam led by a pastor recently caught by the United States CFTC.
Procedure that concerns the pastor Francier Obando Pinillo. He was accused of leading a fraud and embezzlement funds using its function. This for the purpose promote a fictitious trading platform with his followers and other victims.
“The CFTC announced today that it has filed a complaint against Francier Obando Pinillo for fraud and embezzlement in connection with a multi-level marketing scheme involving digital asset transactions. »
He siphons $6 million from his victims
According to available information, this affair would take place between November 2021 and December 2023. And the priest in question presented himself as the CEO of the entities Solanophis, Solano Partners Ltd. AND Solano Capital Investments.
Fictitious structures at the beginning of a The Solano Ecosystem (it cannot be imagined) also imaginary. All of them purportedly aim to conduct trading operations with cryptocurrencies such as Bitcoin or Ether.
In fact, it was a fictitious platform whose sole purpose was to siphon money from his victims. This using a trading robot promising monthly returns 34.9%. But also using the menu staking out applied to popular cryptocurrencies like bitcoin or Dogecoin.
Pastor Francier Obando Pinillo allegedly managed to embezzle $6 million. The CFTC is seeking damages from its victims. As well as seizing all funds created.
This case reminds us of a fundamental truth that is not unique to the crypto sector: caution is essential, especially when faced with promises of extraordinary returns. At the beginning of a bull run, opportunities bloom, but so do scams. Always take time to verify information, avoid dubious platforms and never invest more than you can afford to lose. And when cryptocurrencies crash, don’t lose faith.