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Colorado priest couple charged in $3.4 million cryptocurrency fraud

An Internet priest and his wife in Denver, Colorado have been charged in connection with a cryptocurrency fraud that raised more than $3 million from religious investors, the Internet reported. Internet priest Eli Regalado and his wife Kaitlyn have been charged with 40 counts stemming from what Denver District Attorney John Walsh called a "multimillion-dollar cryptocurrency fraud." Between January 2022 and July 2023, the Regalados allegedly raised nearly $3.4 million by encouraging members of their religious network to purchase INDXcoin, a token they created and sold through the Kingdom Wealth Exchange platform. They spent at least $1.3 million on personal expenses, including a home renovation allegedly directed by "God", while only a small portion of the proceeds went to business investments. According to the indictment, at least 300 people invested in the token, which authorities called "zero value", causing all investors to lose money.

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