U.S. CFTC sues pastor for alleged $6M crypto Ponzi scheme

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against church pastor Francier Obando Pinillo for allegedly orchestrating a $6 million crypto Ponzi scheme that targeted at least 1,515 individuals, according to a press release on the agency's official website. Pinillo is accused of promoting a fraudulent crypto trading platform, Solanofi, where he promised monthly returns of up to 34.9% through automated trading and staking services.