Colorado pastor pockets $1.3-million in crypto: “The Lord told us to”
By Shawn Patrick on January 24, 2024
A church pastor in Colorado is taking zero responsibility after allegedly pocketing over a million dollars through a cryptocurrency fraud scheme and telling his followers that Lord told him to do it.
Eli Regalado and his wife marketed their INDXcoin to Christian communities in Denver, telling parishioners God said they’d become wealthy if they partook.
Regalado’s crypto raked in nearly $3.2-million, of which at least $1.3-million was “used for their own personal benefit,” according to the complaint. “Out of the $1.3 [million], half a million dollars went to the IRS, and a few hundred thousand dollars went to a home remodel the Lord told us to do,” Eli said in the video.
He and his wife allegedly spent some of the cash on purses, a nanny, snowmobiles, and a Range Rover.
The couple has been charged with violating anti-fraud provisions under the Colorado Securities Act and are scheduled to appear in Denver District Court next week.