God tells Pastor to Pocket Investments; Pastor Expects God Will Pay Back Victims

Crypto currencyPhoto byArt RachenonUnsplash

A pastor in Colorado told his congregation that God had told him to start selling crypto-currency, following prayers and "cues" from God. Denver pastor Eli Regalado and his wife Kaitlyn started INDXcoin.

They collected $3.2 million from about 300 investors. The sales pitches were laced heavily with prayers and quotes from the bible. Apparently, being pious and wealthy doesn't necessarily make you smart.

They sold it to members of his Victorious Grace Church and other Christian communities in the Denver area. They sold it through the Kingdom Wealth Exchange, an online cryptocurrency marketplace he created, controlled and operated.

God also told the Regalados to do a few hundred thousand dollar remodel to their home, according to the pastor. "The charges are that Kaitlyn and I pocketed 1.3 million dollars, and I just want to come out and say that those charges are true,” the pastor said.

INDXcoin was not backed by any assets, and investors were mislead as to the value, told coins were worth $10 - $12, when they cost $1.50 or were given away.

The pastor also said he is anticipating a miracle from God to jiggle the financial sector to allow victims to receive their money back.

There's a god I could go with.

The Regalados have been charged with multiple violations by the Colorado Securities Division.