A pair of evangelical pastors are accused of fraud for creating a cryptocurrency and inviting people to invest in it. They say they did it because God asked them to; But amid the scandal that has emerged, the pastor is now pointing out that he may have “not listened to God properly.”

Eligio and Kaitlyn Regalado, as they were identified in an RT note, “convinced more than 300 people to invest in their digital currency INDXcoin.”

According to them, God told them that whoever did this would become rich.

The couple told US authorities that they were following the instructions “God gave them in a dream” with the currency ‘INDXcoin’.

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Fraud of more than 3 million dollars with cryptocurrency

Both are accused of civil fraud for raising more than $3 million, Univision reports.

According to the lawsuit filed by the Colorado Attorney General’s office, “Colorado Securities Division investigators found that, from June 2022 to April 2023, “INDXcoin raised nearly $3.2 million from more than 300 individuals.”

Tung Chan, who according to Univision is Colorado Securities Commissioner, “has filed civil fraud charges against the Regalados and the companies INDXcoin, LLC, Kingdom Wealth Exchange LLC and others for alleged anti-fraud, licensing and registration violations of the Colorado Securities Law. ”

This was detailed by the news network last Tuesday, January 23, citing a statement from January 18, 2024.

God told us, the pastor emphasizes

The complaint Univisión is talking about “states that Eli Regalado addressed Christian communities in Denver and stated that “God told him directly that investors would get rich if they put money into INDXcoin.”

According to Chan, the couple “abused the trust and faith of their own Christian community” by selling them “excessive promises of wealth.”

On RT they reported that the couple promised the investors that they would “tidy” and “sow” the profits in charities benefiting widows and orphans.

The pastor couple, Univisión recalled, had no experience with cryptocurrencies.

RT noted that Eligio “acknowledges that they sold a cryptocurrency without a clear exit.” But he insists: “Either I misheard God, and all those who prayed and came, or God is not done with this project yet.”

Authorities are investigating whether some $1.3 million of the money raised, about 39%, “went directly to Eligio and Kaitlyn’s coffers and was used ‘for their own personal benefit.’

They are believed to have spent “substantial amounts” with that money on holidays, luxury bags, clothes and home renovations, among other things, RT reported.

Regalado stated in a video that the allegations “are true” and that he had spent “a few hundred thousand dollars” remodeling his home. “The Lord told us to do it,” the Russian media also published, citing The Washington Post.

(JO)