Colorado Pastor Couple Charged in $3.40M Crypto Token Scam

Prosecutors in Denver, Colorado, have announced that online pastor Eli Regalado and his wife, Kaitlyn, have been indicted on a total of 40 counts for allegedly orchestrating a fraud involving the INDXcoin crypto token. The couple is accused of raising over $3.40 million between 2022 and 2023 by promoting the token to religious communities through their self-built Kingdom Wealth Exchange platform. At least $1.30 million of this amount was allegedly used for personal expenses, including home renovations. The indictment states that approximately 300 investors suffered total losses as a result. [Cointelegraph]