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Denver Pastor and Wife Indicted in $3.4M Crypto Scam Targeting Faith Community
Denver Pastor and Wife Indicted in $3.4M Crypto Scam Targeting Faith Community
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BTCCSquare news:
A Denver-based online pastor and his wife have been indicted for allegedly defrauding their religious followers of more than $3 million through a fraudulent cryptocurrency scheme. The couple promoted INDXcoin, a valueless digital token, as a secure investment opportunity via their platform, Kingdom Wealth Exchange.
Prosecutors revealed that $1.3 million of the $3.4 million raised was diverted to personal luxuries, including home renovations, rather than business development. The Denver District Attorney's Office emphasized that INDXcoin lacked any tangible assets or real value, despite being marketed as a sound investment.
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