US Pastor, Wife In $1m Crypto Fraud

Shockwaves rippled through the United States’ Christian community with Eli Regalado, a pastor from Denver, Colorado, and his wife, Kaitlyn, facing serious allegations of embezzling over $1 million from their followers.

The couple purportedly claimed to have received divine guidance to create and promote a cryptocurrency named “INDXcoin,” promising investors prosperity as directed by the Lord.

The state’s division of securities disclosed this in a statement released on Thursday.

The Regalados reportedly developed and promoted their own cryptocurrency, “INDXcoin,” claiming that the Lord had assured them investors would prosper.

Despite Victorious Grace Church being an online-only congregation, the couple managed to raise a substantial $290,000 for the church through the cryptocurrency venture.

However, prosecutors argue that INDXcoin was nothing more than a scam, labeled as “practically worthless.”

While the Regalados enjoyed lavish lifestyles, unsuspecting investors suffered losses amounting to millions of dollars.

Authorities are now pursuing legal action against the pastor and his wife.