Crypto Blog
The Commodity Futures Trading Commission has filed a civil enforcement action against Francier Obando Pinillo, a pastor from Pasco, Washington, accusing him of running a fraudulent cryptocurrency Ponzi scheme worth at least $5.9 million.
He claimed to be the CEO of Solanofi, an automated trading platform that offered risk-free profits through high-performance trading of crypto assets. Pinillo falsely advertised guaranteed monthly returns of up to 34.9% and assured participants that the platform was secure and reliable. However, the document states that there was no trading platform, no trades occurred, and no profits were generated. Instead, Pinillo allegedly misappropriated all funds provided by customers.
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