"God or Profits? Pastor's 'Heavenly' Cryptocurrency Plan Puts 600 Believers in Financial Trouble"

A Denver pastor and his wife have been ordered to pay back $3.39 million after being found guilty in a cryptocurrency fraud case involving more than 600 people from their online congregation, Victorious Grace Church. According to the Denver District Court, Eli and Kaitlyn Regalado deceived investors by promoting worthless tokens—INDXcoin and Sumcoin—while presenting their scheme as a faith-driven investment. The couple was found to have violated the Colorado Securities Act by making misleading religious claims and promising false financial gains.

The Regalados promoted INDXcoin to potential investors by asserting that the idea for the token came from divine instruction. They set up a “Prophetic Team” to offer guidance through prayer and claimed spiritual insight, further embedding their pitch in religious rhetoric. Court records show that the Regalados assured their followers that INDXcoin was a safer and more profitable alternative to other cryptocurrencies, even though it had no real value or active market. In reality, a cybersecurity review rated INDXcoin at 0 out of 10, and investigators discovered the token was backed by only $30,000—far less than the $300 million publicized by the couple.

The pair collected $3.4 million from over 500 investors, which they used to support a lavish lifestyle that included expensive cars, luxury jewelry, cosmetic dental work, and home upgrades. More than $1.3 million went toward personal spending and church costs, but there were no clear guidelines for how the money was used. The Regalados also launched the Kingdom Wealth Exchange, a crypto platform intended for INDXcoin, which failed after just one day online.

Alongside the civil penalty, the couple is facing 40 felony charges that include securities fraud, theft, and racketeering. They were indicted by a grand jury in July 2025 and are currently free on bond, awaiting their court date. If found guilty, they could be sentenced to prison. The court also barred them from participating in securities offerings in Colorado for 20 years.

This case has brought attention to a rising pattern of crypto scams tied to religious communities, where faith leaders misuse their followers’ trust for personal enrichment. Colorado authorities have observed a surge in these cases, with reported losses surpassing $81 million in the past year. The Regalados' actions have caused particular concern due to the emotional and spiritual manipulation involved, as well as the opaque nature of their financial dealings.

The verdict highlights the urgent need for greater vigilance and regulatory oversight in the cryptocurrency industry, especially when religious figures are involved in investment opportunities. As the court pointed out, people should be wary of investment promises that sound unrealistic, particularly when they are wrapped in religious or spiritual language.