"Colorado Pastor Allegedly Uses Divine Guidance to Defraud Christians in $3M Crypto Scheme"

Colorado pastor Eli Regalado and his wife are accused of pocketing $1.3 million from their followers after launching a cryptocurrency venture, INDXcoin, which state regulators say was essentially worthless. The couple used around $1.3 million of the investment funds for personal expenses, including a Range Rover, jewelry, cosmetic dentistry, vacations, and home renovations. Regalado admitted to profiting from the venture in a video statement and claimed that God led him to start the crypto venture. The Colorado Division of Securities filed civil fraud charges against the pastor and his wife, accusing them of violations of the state’s Securities Act.