Denver Pastor And Wife Behind $3.4 Million Faith-Based Crypto Scam Indicted
Main Idea
A Denver pastor and his wife were indicted for allegedly defrauding over 300 investors of $3.4 million through a cryptocurrency scheme involving INDXcoin.
Key Points
1. Eli and Kaitlyn Regalado were indicted on 40 counts including theft, securities fraud, and racketeering.
2. The couple raised $3.4 million from investors between January 2022 and July 2023 for their cryptocurrency, INDXcoin.
3. They promoted INDXcoin as a 'wealth transfer' for their Christian community via their Kingdom Wealth Exchange.
4. The Regalados allegedly cashed out $1.3 million in INDXcoin funds, claiming divine instruction.
5. Denver District Attorney John Walsh stated the charges are a step toward holding the Regalados accountable for their alleged fraud.
Description
A Denver, Colorado-based pastor and his wife were indicted on Tuesday on 40 felony charges related to a multi-million-dollar crypto fraud scheme.
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