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Church Allegedly Issued Crypto Token Backed by Nothing But God's Word
A Colorado pastor and his wife are in hot water this week after allegedly making away with millions of dollars raised through a crypto token they marketed to devout Christians—and claimed was made because of God’s instruction. The Denver-area couple, pastor Eligio “Eli” Regalado and his wife Kaitlyn, reportedly raised some $3.2 million through sales of INDXcoin, a crypto token that they issued through an online church, Victorious Grace. Earlier this week, Colorado’s Securities Commissioner sued the couple, claiming they fraudulently deceived investors and illegally sold securities without proper ... (full story)