Online Pastor's $1.3 Million Crypto Scam: Divine Directive or Deceptive Scheme?
Channel: The Schiller
Date: 2024-01-28

Online pastor charged in $1.3M crypto scam! 😱🚫 But wait, he claims the Lord told him to do it!  

Eli Regalado, an online pastor based in Colorado, along with his partner Kaitlin Regalado, were charged with fraud related to a cryptocurrency scam involving a sham token called INDXcoin. The couple allegedly raised nearly $3.2 million from over 300 investors through their platform, the Kingdom Wealth Exchange, mostly from their online-only church, Victorious Grace Church.

Regalado admitted in a video statement that the charges against them, which include pocketing $1.3 million, were true. He claimed that "the Lord" told him to sell the cryptocurrency and use some of the proceeds for a home remodel. The Colorado Securities Commission alleges that the couple took advantage of the trust of their Christian community by selling them essentially worthless cryptocurrencies with outlandish promises of wealth. The Regalados reportedly spent a significant portion of the funds on luxury items and vacations, in addition to paying taxes and the aforementioned home renovations.

Regalado closed down the Kingdom Wealth Exchange in November 2023, citing financial difficulties, and advised INDXcoin holders to refrain from selling the token and to "stop being ruled by mammon (chasing money)."

This case highlights the ongoing issues of trust and fraud in the rapidly evolving cryptocurrency market, particularly when it involves vulnerable communities and promises of high returns.

Shocking Crypto Scam Unveiled: The Regalado Case 🚨 | Insights into Cryptocurrency Frauds and Trust

Welcome to our deep dive into the startling case of Eli and Kaitlin Regalado, the Colorado-based online pastor couple embroiled in a major cryptocurrency scandal. Discover the intricate details of their alleged INDXcoin scheme that raised $3.2 million from over 300 investors, primarily from their online church, Victorious Grace Church.

🔍 What's Inside:

The Regalado Scandal: Unravel the complex web of deceit spun by Eli and Kaitlin Regalado, who are now facing civil fraud charges for creating and marketing a "worthless" cryptocurrency.
The Christian Community's Plight: Explore how the Regalados exploited the trust of their online congregation, promising outlandish wealth from their cryptocurrency.
The Downfall: Delve into Eli Regalado's admission and the controversial claim of divine guidance in this fraudulent scheme.
Lessons Learned: Understand the broader implications of this case for the cryptocurrency market, highlighting the risks of fraud and the importance of due diligence.
Protecting Yourself: Gain valuable insights on how to safeguard against similar scams in the ever-evolving world of digital currencies.
This video is a must-watch for anyone interested in cryptocurrency, digital finance, and the legal and ethical considerations surrounding these emerging technologies. Whether you're an investor, a crypto enthusiast, or simply curious about the dynamics of online scams, this comprehensive analysis offers crucial lessons and warnings.