"Online Church Pastor Faces Fraud Charges for Pocketing $3.2M in Cryptocurrency Scheme"
The pastor of an online church in Colorado, along with his wife, is facing civil fraud charges for allegedly defrauding parishioners out of $3.2 million through the sale of a cryptocurrency called INDXcoin, which state securities regulators have deemed "essentially worthless." The couple is accused of enriching themselves by promoting the cryptocurrency to members of the Christian community and supporting their lavish lifestyle. The pastor, who claimed divine instruction to take over the cryptocurrency, acknowledged making $1.3 million from investors and stated that "God was going to provide." The couple had no prior experience in operating a cryptocurrency exchange or creating a virtual token before minting INDX two years ago.
2 years ago•Source: CBS News
