🙏 Online Pastor and Wife Indicted in $3.4M Crypto Scam Targeting Faith-Based Investors

[tradelikepro]

Another crypto cautionary tale just dropped — and this one’s wrapped in sermons and divine promises.

Eli Regalado, a Denver-based online pastor, and his wife Kaitlyn have just been indicted on 40 counts related to a cryptocurrency scam that allegedly swindled over $3.3 million from their own Christian community.
The “Holy” Hustle

Between January 2022 and July 2023, the Regalados promoted INDXcoin, a token they created and sold via the Kingdom Wealth Exchange — all under the guise of divine instruction.

They raised millions, promising followers that God himself endorsed the coin. Yes, literally:

“The Lord told us to renovate the house,” Eli allegedly said when questioned about spending $1.3 million on personal expenses — including a luxury home renovation. 🙃

Meanwhile, investors were left with a token authorities say had zero value. That’s right — zero. Over 300 people lost money.
🧾 Indicted But Not Forgotten

Denver DA John Walsh called it a major win in seeking justice:

“These charges mark a major step forward in holding the Regalados accountable.”

The Colorado Securities Commissioner also noted how Eli abused the trust of his community:

“He claimed God told him that investors would become wealthy.”

Divine Guidance or Financial Fraud?

This indictment follows earlier fraud charges back in January. Authorities say the Regalados leveraged religious faith to sell worthless crypto, which is sadly not new in the crypto space.

We’ve seen similar schemes where crypto is pitched like spiritual salvation — only for followers to end up broke and betrayed.
What You Should Know

Token involved: INDXcoin (now defunct)

Total raised: ~$3.4 million

Spent on personal luxuries: ~$1.3 million

Number of victims: ~300

Status: 40-count indictment, ongoing investigation

️ Let this be a reminder — just because someone says “God backs this crypto” doesn’t mean you should FOMO in. Always DYOR, especially when trust is used as the main marketing tool.

Would you consider investing if a religious leader vouched for a crypto project? Or is that an immediate red flag? Sound off below.

[jacson4]

A sobering case of trust misused. Eli and Kaitlyn Regalado, operating as online pastor and wife, allegedly raised over $3.4 million by promoting INDXcoin to their religious community. They claimed divine guidance to pitch the token as a secure, high-return investment. Instead, the coin had no real value and was only tradable on their own platform. Prosecutors say they diverted at least $1.3 million into personal expenses, including home renovations and luxury items. Over 300 investors were affected. This indictment underscores the need for greater scrutiny of crypto schemes marketed through social influence.

[Nahid10]

This case raises important questions about ethical investing and accountability. The Regalados allegedly used their online ministry to promote INDXcoin, claiming it was divinely inspired and financially secure. However, the token had no real value and was not backed by any assets. Funds raised were reportedly used for personal expenses, including home renovations and luxury items. This highlights the importance of transparency and due diligence when considering investments, especially those promoted through influential platforms.