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<p>Eli Regalado, a <strong><a target="_blank" href="https://Gistreel.com/tag/pastor" rel="noopener">pastor</a> </strong>residing in the United States, claims God told him to steal $1.3 million from his <strong><a target="_blank" href="https://gistreel.com/?s=church+members" rel="noopener">church members</a></strong> in a cryptocurrency scam.</p>
<p>Eli and his wife, Kaitlyn, are accused of breaking Colorado’s anti-fraud, licencing, and registration rules after creating and selling “INDXcoin,” a <strong>cryptocurrency</strong>, to Christians in the state.</p>
<p>According to a recent press statement from the state’s securities office, the couple allegedly informed potential investors that the Lord had told them that if they invested, they would become wealthy.</p>
<p>However, prosecutors claimed that INDXcoin was “practically worthless” in reality. Investors lost millions of dollars as the Regalados lived lavishly.</p>
<figure id="attachment_1024089" aria-describedby="caption-attachment-1024089" style="width: 1500px" class="wp-caption aligncenter"><picture decoding="async" class="size-full wp-image-1024089"><source type="image/webp" data-lazy- data-lazy-/><img decoding="async" alt="“God told me to do it,” - U.S. pastor who stole $1.3 million from church members says" width="1500" height="1000" data-lazy- src="https://toptechblitz.com.ng/wp-content/uploads/2024/01/240122-eli-ragalado-snip-ac-601p-76860c.jpg"/>
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<noscript><picture decoding="async" class="size-full wp-image-1024089"><source type="image/webp" /><img decoding="async" src="https://toptechblitz.com.ng/wp-content/uploads/2024/01/240122-eli-ragalado-snip-ac-601p-76860c.jpg" alt="“God told me to do it,” - U.S. pastor who stole $1.3 million from church members says" width="1500" height="1000" />
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</noscript><figcaption id="caption-attachment-1024089" class="wp-caption-text">Eli Regalado, US Pastor who created fake cryptocurrency. Source: Google</figcaption></figure>
<p>In a video statement posted on INDXcoin website, Eli admitted that the pair squandered $1.3 million raised through cryptocurrency.</p>
<p><em>“The charges are that me and Kaitlyn pocketed $1.3m. I just wanted to come out and say those charges are true.</em></p>
<p><em>A few hundred thousand dollars went to a home remodel the Lord told us to do. We took God at his word and sold a cryptocurrency with no clear exit,”</em> he said.</p>
<p>Regalado further stated that the pair continues to hope that God would <em>“work a miracle in the financial sector”.</em></p>
<p>INDXcoin raised around $3.2 million from over 300 individuals between June 2022 and April 2023. The Regalados spent at least $1.3 million, or more than half, on personal luxury items including jewellery, an au pair, and a large home repair project.</p>
<p>The Regalados also raised at least $290,000 for their online-only church, Victorious Grace Church, which has no physical location.</p>
<p>The Regalados also have no experience with cryptocurrency. A third-party auditor discovered major technical flaws with the INDXcoin code, yet the Regalados continued to promote the cryptocurrency as a low-risk, high-reward alternative.</p>
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<p><a href="https://www.gistreel.com/god-told-me-to-do-it-u-s-pastor-who-stole-1-3-million-from-church-members-says/" previewlistener="true">Source link </a></p>

