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A pastor’s millionaire scam on his faithful with “divine cryptocurrencies”: “I heard God wrong”

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An American pastor who sold a worthless cryptocurrency to his parishioners and pocketed 1.3 million dollarswhich he used in part to renovate his house, insists that God said to do it that way.

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Eli Regalado and his wife Kaitlyn face a civil lawsuit in which they are accused of selling the so-called INDXcoin to other Christians in Colorado, with the divine promise to guarantee investors that they would become rich.

According to the lawsuit filed by the Colorado attorney general’s office, investigators found that 300 people invested $3.2 million in a business that Regalado and his wife They insisted that he was supported by God.

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All despite the fact that the couple, who run an online church, had no experience with cryptocurrencies, the Colorado Division of Securities, the state agency charged with regulating the stock market, said in a statement.

Accused of fraud, Regalado went further in his alibi, claiming that God had entrusted him with that mission and even confessed it He used the money to renovate his house.expense which he also attributed to celestial orders.

“So the charges say Kaitlyn and I took $1.3 million, and I just want to come out and say it These accusations are true.“he said in a video posted on an INDXcoin investor forum.

Eli Regalado and his wife Kaitlyn face a civil lawsuit.Eli Regalado and his wife Kaitlyn face a civil lawsuit.

“Of the $1.3 million, half went to the IRS (United States Internal Revenue Service) and approximately $100,000 went to a renovation that the “The Lord told us to do”He continued.

The couple also allegedly spent the funds on a number of luxury items, including a Range Rover vehicle, jewelry, handbags and travel, the lawsuit states.

Regarding the lawsuit against him, filed in Denver last week, Regalado said it was possible he had some communication issues on his direct line to God.

“I heard God wrong (…) or God is not finished with this project yet,” he said. And he added: “What we pray for (…) is that God will work a miracle in the financial sector. “He Will Work a Miracle for INDXcoin.”

Colorado Securities Commissioner Tung Chan said the number of potential investors in quick fix programs would be smart enough not to decline.

“We allege that Mr. Regalado took advantage of the faith and trust of his own Christian community and sold them extravagant promises of wealth by essentially selling them worthless cryptocurrencies,” he said.

NBC News reported that the couple is expected to appear in court next week.

Source: Clarin

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