It Was God’s Instruction– Pastor Says After Using Church Members’ $1. 3 Million Investment Money To Buy Luxury Items
Another suspected scam pastor has been arrested in the US after he sold a worthless cryptocurrency to his church members and Christian community and pocketed $1. 3 million.
The pastor who is identified as Eli Regalado was arrested alongside his wife, Kaitlyn. The couple are both facing a civil lawsuit alleging they flogged a so- called INDXcoin to fellow Christians in Colorado, with divine guarantees investors would become rich.
Unfortunately, the investment did not yield anything.
It Was God’s Instruction– Pastor Says
According to the Colorado Attorney General’ s Office, investigators found out that over 300 people sank $3. 2 million into something Regalado and his wife insisted God was backing. The church members pumped money into the crypto coin. When the investment failed to yield any result and all the money was lost, the pastor said he did as god instructed him.
During the investigation, the pastor confessed how he spent some of the money to renovate his house- which he said was also an instruction from above.
” So the charges are that Kaitlyn and I have pocketed $1. 3 million, and I just want to come out and say that those charges are true, ” he said in a video posted to a forum for INDXcoin investors.
” Out of that 1. 3, half a million dollars went to the IRS and a few $100, 000 went to a home remodel that the Lord told us to do. “
