Denver Pastor, Wife Indicted in Alleged $3.4 Million Crypto Scam

A Denver grand jury has indicted pastor Eli Regalado and his wife Kaitlyn on 40 felony charges tied to an alleged cryptocurrency fraud scheme targeting Christian investors. The couple reportedly raised $3.4 million through INDXcoin, a token they promoted to their religious community between January 2022 and July 2023.

Prosecutors allege the Regalados diverted $1.3 million for personal luxuries—including cosmetic dentistry, vacations, and home renovations—while claiming divine justification for their expenditures. In a since-deleted video confession, Eli Regalado admitted to using investor funds but maintained his belief in the project's spiritual purpose.

The Denver District Attorney's office filed charges including securities fraud, theft, and racketeering. Over 300 investors were allegedly defrauded in what authorities describe as a predatory scheme exploiting religious trust.