A pastor couple in Colorado has been charged with $3.4 million cryptocurrency fraud

ChainCatcher news, according to Cointelegraph, Pastor Eli Regalado and his wife Kaitlyn from Denver, Colorado, have been charged with an alleged cryptocurrency fraud scheme.

According to the indictment, between January 2022 and July 2023, the Regalados created and sold INDXcoin tokens through the Kingdom Wealth Exchange platform, raising nearly $3.4 million from individuals within their religious network. They used at least $1.3 million for personal expenses, including home renovations, claiming it was what "God" told them to do.