Bitcoin
Bitcoin (BTC)
$65,234.00 -1.10593
Bitcoin price
Ethereum
Ethereum (ETH)
$3,323.10 -4.85722
Ethereum price
BNB
BNB (BNB)
$573.03 -1.82581
BNB price
Solana
Solana (SOL)
$177.01 2.16179
Solana price
XRP
XRP (XRP)
$0.6090520 1.64212
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000168 -1.87786
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -3.63885
Pepe price
Bonk
Bonk (BONK)
$0.0000274 -2.54587
Bonk price
Bitcoin
Bitcoin (BTC)
$65,234.00 -1.10593
Bitcoin price
Ethereum
Ethereum (ETH)
$3,323.10 -4.85722
Ethereum price
BNB
BNB (BNB)
$573.03 -1.82581
BNB price
Solana
Solana (SOL)
$177.01 2.16179
Solana price
XRP
XRP (XRP)
$0.6090520 1.64212
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000168 -1.87786
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -3.63885
Pepe price
Bonk
Bonk (BONK)
$0.0000274 -2.54587
Bonk price
Bitcoin
Bitcoin (BTC)
$65,234.00 -1.10593
Bitcoin price
Ethereum
Ethereum (ETH)
$3,323.10 -4.85722
Ethereum price
BNB
BNB (BNB)
$573.03 -1.82581
BNB price
Solana
Solana (SOL)
$177.01 2.16179
Solana price
XRP
XRP (XRP)
$0.6090520 1.64212
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000168 -1.87786
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -3.63885
Pepe price
Bonk
Bonk (BONK)
$0.0000274 -2.54587
Bonk price
Bitcoin
Bitcoin (BTC)
$65,234.00 -1.10593
Bitcoin price
Ethereum
Ethereum (ETH)
$3,323.10 -4.85722
Ethereum price
BNB
BNB (BNB)
$573.03 -1.82581
BNB price
Solana
Solana (SOL)
$177.01 2.16179
Solana price
XRP
XRP (XRP)
$0.6090520 1.64212
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000168 -1.87786
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 -3.63885
Pepe price
Bonk
Bonk (BONK)
$0.0000274 -2.54587
Bonk price

Religious leaders face fraud charges over crypto scheme

religious-leaders-face-fraud-charges-over-crypto-scheme
Edited by
Follow-up
Religious leaders face fraud charges over crypto scheme

The Colorado Attorney General’s Office has filed a lawsuit against the founders of cryptocurrency INDXCoin, alleging they fraudulently used congregation investments for personal gain.

Eli and Kaitlin Regalado, founders of INDXCoin and prominent religious leaders, are facing allegations of fraud, as stated in a lawsuit by the Colorado Attorney General’s Office. The lawsuit accuses the couple of using investment funds from their congregation for personal expenses, including home renovations.

INDXCoin, originally marketed as a utility coin linked to the top 100 cryptocurrencies, has now come under scrutiny as the Attorney General’s complaint alleges that Eli Regalado, a pastor, specifically targeted Christian communities in Denver, promising divine financial rewards for investing in INDXCoin.

The lawsuit further highlights the Regalados’ lack of experience in cryptocurrency, leading to INDXCoin becoming “illiquid and practically worthless,” according to Colorado Securities Commissioner Tung Chan.

In a video, Eli Regalado admitted to diverting $1.3 million of invested funds, specifying that a significant portion was used for home remodeling, as instructed by God. Despite acknowledging these expenditures, Regalado intends to contest the fraud charges in court, relying on his faith for a financial miracle to reimburse investors.

If found guilty, the INDXCoin case could be seen as a modern twist on an age-old scam, adapting the traditional fraudulent investment scheme to the digital age.