A great jury of Denver charged a married couple on 40 leaders of theft, fraud and deception, for having pretended to have exploited a cryptocurrency scam of several million dollars which mainly targeted the churches, announced Tuesday the prosecutor of the Denver district in a press release.
Between 2022 and July 2023, Eli Regalado, who is also a pastor who preaches the Victorious Grace Church, and his wife Kaitlyn, the only other church employee they host at their home, would have requested nearly $ 3.4 million from investors who seek to buy their cryptocurrency indxcoin in their exchange of kingdom.
The couple has targeted Christians from their church as well as other churches to buy their cryptocurrency, promising enormous yields, said the district prosecutor, but in the end, Indxcoin did not maintain any value and more than 300 investors have lost their money. The Regalados spent $ 1.3 million from the product of their token sales on personal expenses, such as a renovation at home, said the indictment.
The Indxcoin White Paper said that the play was “designed to develop as the cryptocurrency market explodes by analyzing the 100 best cryptocurrencies in the world, allowing users to capitalize on growth while attenuating risk”. However, the indictment said it was misleading.
“Eli and Kaitlyn Regalado deceived potential and current investors, and did not disclose them: that the defendants lacked liquidity to support the quantity of indxcoin then pending and that Indxcoin was not fixed ” at a certain value or the average of the Crypto-Cartes of the Top 100 in the world, but instead, in place without any attack.
The commissioner of securities of Colorado, Tung Chan, initially filed charges against the pair last year. In March, the pastor appeared in a video message and said that the “charges are true”. He also said at the time that the company was something he believed that God had told him to do.
“The Lord has told us to keep us away from our parking company. … [H]He took us to this cryptocurrency … Well, this cryptocurrency turned out to be a scam … And I said Lord … You told me to do this, “he said in the video.
