Denver Pastor Faces Charges Over $1 Million Cryptocurrency Scheme
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A pastor in Denver, Eligio Regalado, and his wife are facing civil charges for selling a "practically worthless" cryptocurrency and pocketing over $1 million.
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Regalado claimed God told him to sell the cryptocurrency, called INDXcoin, through an exchange he ran with his wife despite no crypto experience.
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They marketed INDXcoin to Christians in Denver and raised nearly $3.2 million from over 300 people between June 2022 and April 2023.
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The couple then used the money to fund a "lavish lifestyle" for themselves, according to prosecutors.
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In a video, Regalado said authorities "have to do this" and that he took God "at his word" despite selling a crypto with "no clear exit."