The Commodity Futures Trading Commission (CFTC) today announced a civil enforcement action in the U.S. District Court for the Eastern District of Washington against Francier Obando Pinillo, doing business as Solanofi, Solano Partners Ltd., and Solano Capital Investments –collectively Solanofi entities – for engaging in a fraudulent digital assets multilevel marketing scheme worth at least $5.9 million.
Pinillo targeted at least 1,515 customers in the United States, including members of a Spanish church where he was the pastor in Pasco, Washington, in the scheme.
As alleged in the complaint, Pinillo, individually and doing business as the Solanofi entities, mainly targeted Spanish-speaking customers who had little to no experience or understanding in digital asset transactions or commodity interest trading. He abused his position of trust…
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