When Faith Meets Fraud: Colorado Pastor’s $3.4M Crypto Scam 😂

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In the shadowed corners of Denver, Colorado, where the light of faith is supposed to shine, a tale of betrayal and deceit unfolds. Online pastor Eli Regalado, alongside his wife Kaitlyn, has been indicted on 40 counts related to a cryptocurrency fraud scheme that swindled over $3 million from the faithful. 🙏💰

The Regalados, with their silver tongues and promises of divine prosperity, managed to con nearly 300 believers between January 2022 and July 2023. They convinced their flock to invest in INDXcoin, a token they concocted and peddled through the Kingdom Wealth Exchange platform. 🕊️💻

But what did the Lord really mean when He whispered about renovating a home? It seems the Regalados took it quite literally, spending at least $1.3 million on personal luxuries, all while the INDXcoin remained as valuable as a dried-up well in the desert. 💦🏠

Denver District Attorney John Walsh, in a statement dripping with the gravity of the moment, declared, “These charges mark a major step forward in our work to hold the Regalados accountable for their alleged crimes and to bring a measure of justice to the victims.”

“I want to thank the prosecutors and investigators in my office, and, particularly, the investigators with the Colorado Division of Securities and the Colorado Attorney General’s Office, whose outstanding work on the case resulted in this indictment.”

Pastor Claims Divine Guidance

This indictment, however, is not the first time the Regalados have faced the long arm of the law. Six months ago, they were already under scrutiny for their fraudulent activities, as reported by CryptoMoon on Jan. 22. Colorado Securities Commissioner Tung Chan expressed his dismay, stating, “We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community and that he peddled outlandish promises of wealth to them when he sold them essentially worthless cryptocurrencies.”

“The complaint alleges that Regalado targeted Christian communities in Denver and claimed that God told him directly that investors would become wealthy if they put money into INDXcoin.”

The world of cryptocurrency, a realm often shrouded in mystery and allure, continues to be a fertile ground for scammers. Just in May, an FBI-led operation nabbed a New Zealand-based individual who allegedly siphoned off $265 million in digital assets, using the funds to indulge in a lavish lifestyle. 🚗💎

As the dust settles, one can’t help but wonder: in a world where faith and finance collide, who will be the next to fall from grace? 🤔🙏

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2025-07-23 12:28