Denver Pastor and Wife Banned 20 Years for $3.4M INDXcoin Crypto Fraud

A Denver pastor and his wife have been barred from cryptocurrency transactions and all investment activities for two decades after orchestrating a $3.4 million fraud through a fake digital asset called INDXcoin. The scheme targeted over 300 investors, many from their own church community, with promises of high returns that never materialized.

INDXcoin collapsed within 24 hours of its launch due to catastrophic liquidity failures, leaving victims with irreversible losses. Judge Heidi L. Kutcher's scathing ruling ordered full restitution of $3.39 million, emphasizing the defendants' fundamental unsuitability for any future financial dealings.

The case marks a rare instance of crypto fraud penetrating religious institutions, challenging the perception that such scams are exclusively the domain of anonymous hacker collectives like Lazarus Group. Regulatory scrutiny of faith-based investment schemes is likely to intensify following this precedent-setting judgment.