US EditionColorado Pastor Faces Fraud Charges After Targeting Congregation in Alleged $3.2 Million Cryptocurrency Scheme
DENVER COUNTY, COLORADO, JUL 22 – The Regalados allegedly raised nearly $3.4 million from over 300 investors by promoting INDXcoin as a divinely guided investment within Denver Christian communities.
- A Denver grand jury charged Eligio "Eli" Regalado and his wife Kaitlyn with 40 felony counts related to an alleged $3.4 million cryptocurrency fraud scheme that targeted primarily Christian investors from January 2022 to July 2023.
- The charges arose after an investigation found that the Regalados raised money through INDXcoin by assuring investors of financial gains linked to spiritual direction, despite the cryptocurrency having no actual value and resulting in total losses for investors.
- The couple reportedly leveraged their faith-based network to attract over 300 investors, diverting a significant portion of the funds—totaling more than $1.3 million—toward personal use such as home renovations they claimed were guided by divine instruction, while only a small fraction was invested back into the business.
- Denver District Attorney John Walsh stated that bringing these charges is an important advancement in efforts to ensure the Regalados face responsibility and deliver justice to the victims, while a court also acted to freeze their assets and impose an injunction.
- The indictment and court actions suggest authorities aim to protect remaining funds and warn investors against securities fraud, with the Regalados awaiting a civil trial and scheduled court appearances.
19 Articles
19 Articles
Grand Jury Charges Pastor, Wife in Alleged Multi-Million Dollar Cryptocurrency Scam
A Denver grand jury has indicted a married couple on 40 counts of theft, fraud and deceit, for allegedly operating a multi-million-dollar cryptocurrency scam that mostly targeted churches, the Denver District Attorney announced in a press release on Tuesday.Between 2022 and July 2023, Eli Regalado, who is also a pastor who preaches at the Victorious Grace Church, and his wife Kaitlyn, the only other employee at the church which they host at thei…
An elderly man from Hranice in the Přerov region came across a scammer when he wanted to increase his money by investing in cryptocurrency. Instead of the desired profit, he lost tens of thousands of crowns. When he found out, he went to the local police department.
Instagram advertising sounded convincing: investing in the purchase of equipment to mount cryptocurrency mining “farms” and receiving monthly earnings of 5%. But it sounded too good to be true. Those who bet through the cryptofarm app charged the promised interest a couple of times, and then, the nothing that preceded the certainty that they had fallen into a scam.
Denver court freezes assets of Colorado pastor involved in faith-based cryptocurrency scam
One Colorado pastor has taken his faith-based cryptocurrency mission abroad while a Denver District Court issued a preliminary injunction and froze his assets. Eli Regalado, and his wife Kaitlyn, continue to face civil fraud charges back home.
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