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Colorado pastor faces fraud charges after targeting congregation in alleged $3.2 million cryptocurrency scheme
DENVER — Standing on claims of divine providence, a Colorado pastor and his wife are facing earthly consequences after allegedly influencing their congregation to invest in a mostly "worthless" cryptocurrency that they created, authorities said.
The Colorado Securities Commission filed civil fraud charges against Eligio (Eli) and Kaitlyn Regalado of Denver, INDXcoin LLC, Kingdom Wealth Exchange LLC and others for alleged violations of the anti-fraud, licensing and registration provisions of the Colorado Securities Act, according to a news release.