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More than 300 people bought INDXcoin, a cryptocurrency created by the pastor and marketed through his online church, which was deemed "illiquid and practically worthless."
A Colorado-based pastor for an online church accused of pocketing $1.3 million through a cryptocurrency fraud scheme told followers in a video statement that the Lord told him to do it.
Eli Regalado and his wife marketed their cryptocurrency, INDXcoin, to Christian communities in Denver, saying God told him people would become wealthy if they invested, the Colorado Division of Securities said in a statement Thursday.
INDXcoin raised nearly $3.2 million, the Securities Division said. At least $1.3 million of that went directly to the Regalados or was "used for their own personal benefit," said a complaint filed Tuesday in Denver County District Court.
The Regalados could not be reached for comment. In a video statement to his followers last week, Eli Regalado said the charges that they pocketed $1.3 million "are true."
www.nbcnews.com
A Colorado-based pastor for an online church accused of pocketing $1.3 million through a cryptocurrency fraud scheme told followers in a video statement that the Lord told him to do it.
Eli Regalado and his wife marketed their cryptocurrency, INDXcoin, to Christian communities in Denver, saying God told him people would become wealthy if they invested, the Colorado Division of Securities said in a statement Thursday.
INDXcoin raised nearly $3.2 million, the Securities Division said. At least $1.3 million of that went directly to the Regalados or was "used for their own personal benefit," said a complaint filed Tuesday in Denver County District Court.
The Regalados could not be reached for comment. In a video statement to his followers last week, Eli Regalado said the charges that they pocketed $1.3 million "are true."
Colorado pastor accused of pocketing $1.3M in crypto scheme says 'Lord told us to'
More than 300 people bought INDXcoin, a cryptocurrency created by the pastor and marketed through his online church, which was deemed "illiquid and practically worthless."
www.nbcnews.com
