The pastor claimed that “God told” him to shill INDXcoin, which caused financial losses to at least 300 investors.
A Denver, Colorado-based online pastor and his wife were indicted Tuesday on charges related to a cryptocurrency fraud scheme that raised more than $3 million from faith-based investors.
Online pastor Eli Regalado and his wife, Kaitlyn, were indicted on 40 counts stemming from what Denver District Attorney John Walsh described as a “multi-million-dollar cryptocurrency scam.”
Between January 2022 and July 2023, the Regalados allegedly solicited almost $3.4 million by encouraging people in their religious network to buy INDXcoin, a token they created and sold through the Kingdom Wealth Exchange platform.
