U.S. Pastor Accused of Using Religion to Promote Crypto Scam

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Ah, the noble Eli and Kaitlyn Regalado – two enterprising souls who allegedly collected over $3 million by using their “divine inspiration” to promote a cryptocurrency known as INDXcoin. A true testament to the power of faith, wouldn’t you say? 🙏 Or perhaps just a well-played scam on their fellow Christians, as they promised prosperity for their support. But wait, the twist – instead of investing in something tangible, the money was funneled into personal luxuries, like a grandiose home renovation. Who says you can’t be both holy and lavish? 🏰

But alas, the promised wealth never materialized, leaving around 300 investors with nothing more than empty wallets and shattered dreams. The couple’s token, sold via their own platform, was ultimately deemed worthless. Hardly the divine treasure they had promised! 🙄

In a twist that could only be described as poetic justice, the Denver District Attorney’s office, joined by state securities regulators, filed 40 counts against the Regalados. The charges? Preying on the trusting bonds of the religious community, of course. Eli Regalado even had the gall to claim that God himself had instructed him to promise wealth in exchange for support of the token. Truly, the divine works in mysterious ways – or perhaps, just in expensive home improvements. 🤔

This indictment comes hot on the heels of a fraud complaint filed in January. The case only adds to the growing chorus of warnings about crypto scams preying on vulnerable communities. It’s almost as if the digital gold rush is less about salvation and more about sinking people’s savings. Who could have seen that coming? 💸

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2025-07-24 08:12