US EditionColorado pastor accused of pocketing $1.3M in crypto scheme says 'Lord told us to'
- Pastor Eli Regalado and his wife, Kaitlyn, have been charged with defrauding hundreds of Christians by selling a cryptocurrency called INDXcoin, raising over $3m in Colorado.
- Regalado claimed God inspired his plan, assuring investors they would become wealthy. However, a third-party auditor found INDXcoin to be unsafe and practically worthless, yet the Regalados continued to promote it.
- The couple allegedly used the funds for a lavish lifestyle, purchasing items like a Range Rover, luxury handbags, and jewelry. They now face charges for violating anti-fraud provisions.
56 Articles
56 Articles
This pastor says God told him to launch a crypto venture. He’s now accused of pocketing $1.3 million from his followers.
Eli Regalado | YouTube screenshot (CNN) — Denver pastor Eli Regalado had an exciting message for his congregation. After months of prayers and cues from God, he was going to start selling cryptocurrency, he announced in a YouTube video last April. The Signature and Silvergate banks had collapsed weeks earlier, signaling the need to look into other investment options beyond financial institutions, he said. With divine wisdom, he said, he was “set…
A Colorado Pastor Who Was Charged With A $3 Million Crypto Fraud Claims That "The Lord Told Us" To Do It
SOURCE: A Colorado pastor has admitted to pocketing $1.3 million that he and his wife collected through what authorities call a "cryptocurrency fraud scheme."Eligio "Eli" Regalado and Kaitlyn Regalado...
A Colorado pastor says God told him to launch a crypto venture. He’s now accused of pocketing $1.3 million from his followers
By Faith Karimi, CNN (CNN) — Denver pastor Eli Regalado had an exciting message for his congregation. After months of prayers and cues from God, he was going to start selling cryptocurrency, he announced in a YouTube video last April. The Signature and Silvergate banks had collapsed weeks earlier, signaling the need to look into other investment options beyond financial institutions, he said. With divine wisdom, he said, he was “setting the rail…
A Colorado pastor says God told him to launch a crypto venture. He’s now accused of pocketing $1.3 million from his followers
Last April a Denver pastor launched a cryptocurrency, INDXcoin, with sales pitches filled with prayer and quotes from the Bible. Now he and his wife are accused of pocketing $1.2 million from investors and spending much of it on jewelry, cosmetic dentistry, luxury vacations and renovations to their home.
Coverage Details
Bias Distribution
- 40% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
