"Pastor Claims Divine Guidance in $3.2M Crypto Fraud Case"
TL;DR Summary
A pastor and his wife in Denver are facing civil charges for creating and selling a cryptocurrency called INDXcoin, which prosecutors said was "practically worthless," and using the proceeds to support a lavish lifestyle. The pastor, Eligio Regalado, claimed that God told him to sell the cryptocurrency and that investors couldn't cash out due to problems with the exchange. Prosecutors alleged that the couple raised nearly $3.2 million from over 300 people and pocketed about $1.4 million, with the rest going to the IRS and a home remodel. They are now facing legal action, and prosecutors are seeking damages to restore losses to investors.
- Pastor Charged With Cryptocurrency Fraud Said God Told Him to Do It The New York Times
- Colorado pastor accused of pocketing $1.3M in crypto scheme says 'Lord told us to' Yahoo News
- Colorado pastor Eli Regalado faces civil charges for alleged crypto scam The Washington Post
- Colorado pastor faces fraud charges after targeting congregation in alleged $3.2 million cryptocurrency scheme 9News.com KUSA
- ‘The Lord told us to’: US pastor says he stole $1m from Christians to remodel home The Guardian US
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