God Told Me To Do It- US Pastor Accused Of $3.2 Million Cryptocurrency Fraud Reveals

God Told Me To Do It- US Pastor Accused Of $3.2 Million Cryptocurrency Fraud Reveals....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie John

A Colorado-based online pastor, Eligio “Eli” Regalado, finds himself entangled in legal troubles after allegedly orchestrating a $3.2 million cryptocurrency scheme, claiming that God instructed him to do so. Regalado, along with his wife, Kaitlyn Regalado, now faces fraud charges and violations of Colorado’s securities laws. CONTINUE READING

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The legal complaint, filed with the state’s securities commissioner, accuses the couple of breaching anti-fraud, licensing, and registration provisions. It alleges that the Regalados exploited a devout Christian community by selling an “unsafe” and “unsecure” cryptocurrency, called INDXcoin, using Eli’s religious position for promotion.

Investors, who were led to believe that God was directly involved in the crypto venture, have reportedly lost millions. The complaint reveals that the Regalados marketed the currency as “illiquid” and “practically worthless” and solicited investments through their online platform, Kingdom Wealth Exchange (KWE).

Part of their marketing strategy involved convincing followers that God had instructed Eli to create the crypto, promising wealth to investors. In a video addressing his followers, Eli reinforced this claim, stating, “The Lord said: I want you to build this.”

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The legal complaint outlines that $1.3 million from the scheme went into Eli’s pockets, some of which was used for personal expenses, including a home remodel. The couple is accused of maintaining a lavish lifestyle, spending on items such as a Range Rover, luxury handbags, jewelry, an au pair, boat rentals, and snowmobile rides.

Colorado Securities Commissioner Tung Chan emphasized that the Regalados took advantage of the trust and faith of their Christian community, making outlandish promises while selling essentially worthless cryptocurrencies. Regalado, with no prior experience in finance or crypto, admitted in the video that their planned exchange technology failed due to technical issues.

Despite doubts and financial losses, Eli expressed belief in divine intervention, stating, “What we’re believing for still is that God is going to do a miracle.” Meanwhile, the Colorado Division of Securities urges those who invested in INDXcoin or other ventures to contact them. The Regalados and their companies face charges of securities fraud, unlicensed broker-dealer activity, selling unregistered securities, and imposition of constructive trust, with a court appearance scheduled for the coming week.

Watch Eli speak in the video below.

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