Reverend Eli and Kaitlyn Regalado are facing civil fraud charges in Colorado for allegedly orchestrating a cryptocurrency scam through their digital church, Victorious Grace.
The couple is accused of exploiting their Christian community, promoting the “worthless” cryptocurrency “INDXcoin,” which generated around $3.2 million from about 300 investors.
The prosecutors claim the Regalados misused funds for personal expenses, including home renovations, child care, luxury vehicles, and more. In a video response, Eli Regalado admitted to the charges, attributing the situation to technical issues with the unsafe INDXcoin code and expressing hope for a financial miracle.
