Posted 1/23/2024, 11:24:52 PM
Denver Pastor Allegedly Pockets $1.3M from Crypto Scheme Targeting Christians
- Denver pastor Eligio Regalado admitted to pocketing $1.3M from an alleged cryptocurrency scheme targeted at Christians
- Regalado and his wife sold a cryptocurrency called INDXcoin and set up an exchange called Kingdom Wealth Exchange
- Over 300 people invested nearly $3.2M in total into the cryptocurrency
- Of the $1.3M the couple pocketed, $500K went to the IRS and a "few hundred thousand" went to home renovations
- The complaint alleges the couple also spent money from investors on luxury items and vacations for themselves