Pastor and wife charged with $1m fraud after ‘God told him’ to sell crypto to his flock and spent it on vacations

A Denver pastor and his wife have been accused of running a cryptocurrency scam and using the proceeds to pay for a home renovation and vacations.

Eligio “Eli” Regalado and Kaitlyn Regalado were indicted on 40 counts of theft, securities fraud and racketeering, the Denver District Attorney’s Office said last week. Prosecutors say the Regalados solicited $3.4 million from investors looking to buy their cryptocurrency, INDXCoin, but only a “small amount of the proceeds went to the business venture.”