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

According to Cointelegraph, Eli Regalado, a pastor from Denver, Colorado, and his wife Kaitlyn have been charged with alleged cryptocurrency fraud schemes. According to the indictment, between January 2022 and July 2023, the Regalado couple created and sold INDXcoin tokens through the Kingdom Wealth Exchange platform, raising nearly $3.4 million from individuals within their religious network. They will spend at least $1.3 million on personal expenses, including home renovation, claiming that this is what "God" told them to do.