A Colorado pastor accused of conning his own congregation out of millions of dollars by promoting a useless crypto coin claims that God Himself told him to do it.
Eli Regalado and his wife Kaitlyn are being investigated for fraud after allegedly launching and peddling a useless cryptocurrency as a a low-risk, high-profit investment pegged to the average value of the top 100 cryptocurrencies. In reality, INDXcoin was “illiquid and practically worthless,” according to the Colorado Division of Securities, and only available through the Regalados’ proprietary crypto exchange, called Kingdom Wealth Exchange, which the pastor shut down last year, making the coin virtually useless. Now Regalado claims that the whole thing was God’s idea, although he admits that he may have “misunderstood” his message.
