Denver Pastor and Wife Indicted in $3 Million Faith-Based Crypto Scam
Main Idea
Denver pastor Eli Regalado and his wife Kaitlyn have been indicted for allegedly orchestrating a $3 million faith-based crypto scam involving the sale of a worthless token, INDXcoin, to their Christian network.
Key Points
1. The couple is accused of selling INDXcoin, a token with 'zero value,' to members of their Christian community between January 2022 and July 2023.
2. Prosecutors allege the Regalados diverted at least $1.3 million of investor funds for personal use, including home renovations.
3. The case highlights the risks of mixing personal belief with financial promises and adds to a growing list of crypto-related frauds.
4. Investigations were conducted by the Colorado Division of Securities and the Denver District Attorney's office.
5. Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025, according to CertiK’s security report.
Description
A Denver-based online pastor and his wife have been indicted on 40 criminal counts tied to a cryptocurrency fraud scheme that defrauded hundreds of faith-driven investors out of more than $3 million. Key Takeaways: A Denver pastor and his wife were indicted for defrauding over 300 investors through INDXcoin. Authorities say the couple spent $1.3 million of investor funds on personal expenses. Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025. Eli Reg...
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