Denver Pastor And Wife Behind $3.4 Million Faith-Based Crypto Scam Indicted

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.