Posted 1/23/2024, 4:45:00 AM
Colorado Pastor Accused of Pocketing $1.3M from Churchgoers in Cryptocurrency Scheme
- Colorado pastor Eli Regalado accused of pocketing $1.3M from his cryptocurrency scheme INDXcoin, told followers "Lord told us to do it"
- Regalados allegedly spent investors' funds on Range Rover, luxury items, au pair, boat/snowmobile rentals
- INDXcoin raised nearly $3.2M but was "illiquid and practically worthless" per state regulators
- Regalado marketed INDXcoin through his church and other pastors', using faith-based messaging
- Regalado, wife, and 3 companies charged with securities fraud and selling unregistered securities