The priest behind an alleged crypto scam that netted him $1.19 million was recently indicted by Colorado state regulators. He and his wife are suspected of having sold the “worthless” cryptocurrency INDXcoin worth several million euros.
According to the priest, half of the proceeds went to the tax office. He is said to have spent the other half on a renovation dedicated to him by God.
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Denver Pastor Makes $1.2 Million Through Crypto Scam
Eli Regalado is a pastor from Denver, USA, who, in addition to his church work, is also an entrepreneur in the crypto industry. He and his wife started a crypto exchange with an associated cryptocurrency called INDXcoin. However, this project was not a great success:
“We started an exchange, the exchange technology failed, then things went downhill, and from then on we were literally waiting for a miracle from the Lord.”
Regalado said in a video posted on INDXcoin Community forum. Investors in the crypto project currently have no way of getting their invested money back. A total of $3.4 million was invested in the project, an amount that cannot be refunded.
Regalado and his wife's bank accounts were frozen. The two reportedly made at least $1.3 million from the project; Money that went into a new Range Rover, jewelry, handbags and plastic surgery. They also invested $300,000 in remodeling their home, a project “dedicated to them by God.”
Couple admits illegal practices, reactions are strangely very positive
In addition, an amount of approximately $300,000 was transferred to Regalado's church. This is special considering Victorious Grace Church, where Regalado preaches, has no physical location. It is a non-profit organization run by Regalado himself. Church services take place online, in a livestream organized by the pastor.
In their video, the couple admits that they used the money for their own purposes:
“The claims that Kaitlyn and I pocketed $1.3 million are true.” Then he says, “Of that $1.3, half a million dollars went to the tax authorities and a few hundred thousand dollars went to renovating our house, which the Lord has given us.”
Remarkably, the reactions below the video are almost positive:
“You are so brave to post this video. God directs all our paths, and to God is all the glory,” is one of the comments. Of course, Regalado and his wife agreed 100%.
Regalado also had a special message for viewers of his video. The priest revealed that he received a personal message from God himself to the investors of the crypto project. The message was as follows:
“Stay where you are. Stay at INDXcoins. Stay where I tell you to go. I will find a way.” So the Lord, according to Regalado. “Take this word as the truth and put it “And don't worry about how the money will come. I firmly believe that you will experience a miracle in no time.”
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