Kingdom

Jesus

Pastor Eli Regalado finds himself in controversy after launching a crypto project called INDXcoin, which ultimately failed, leaving over 300 <a href="https://news.todayq.com/us-sec-hands-out-1-bln-to-harmed-investors-while-pushing-crypto-enforcement/" target="_blank" rel="noreferrer noopener">investors</a> empty-handed. Colorado Securities Commissioner Tung Chan has filed charges against Regalado and his wife Kaitlyn, accusing them of fraudulently pocketing $1.3 million in crypto proceeds.&nbsp; The charges on Pastor Eli Regalado 
Regalado, a self-described “ordained <a href="https://news.todayq.com/metagood-secures-5-million-to-propel-osura-marketplace-for-bitcoin-art/" target="_blank" rel="noreferrer noopener">Marketplace</a> Minister of the Gospel of Jesus Christ,” claimed that God instructed him to embark on this crypto venture. The pastor admitted to the charges in a video posted on the project’s website, “Those charges are true,” he affirmed, acknowledging that they sold crypto without a clear exit strategy. 
“We sold a cryptocurrency with no clear exit,” Regalado explained, attributing the lack of planning to following God’s guidance. He claimed that God instructed him to build the project and promised investors ten times the money they invested. “We took God at his word,” Regalado stated, revealing an unwavering faith in divine intervention. 
The couple allegedly diverted a significant portion of the raised funds, with approximately $1.3 million used for personal expenses. Regalado mentioned that around $500,000 went to the Internal Revenue Service, and a “few hundred thousand” was allocated to a home remodeling project, which he insisted was also part of God’s plan.&nbsp; The present condition 
Regalado’s involvement in digital marketing before the crypto project raised concerns about his lack of experience in the industry. Despite expressing his reservations to God about his unfamiliarity with the field, he, along with his wife, launched the Kingdom Wealth Exchange. Unfortunately, the exchange technology failed, leading to a downward spiral. 
According to Colorado officials, the crypto is now deemed “illiquid and practically worthless.” The state pursues charges against Regalado, accusing him of exploiting the trust of his Christian community. Commissioner Chan stated, “We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community.” 
The INDXcoin site, where the pastor posted his video response, is flooded with supportive comments from the community, quoting biblical passages and praising Regalado’s handling of the accusations. Despite the challenging situation, Regalado remains resolute, stating, “God is not done with INDXcoin.” 
As the day of the court hearing gets closer, the pastor feels unsure about what lies ahead. He admits that things look really bad right now. Still, he holds on to his belief that God will find a way to fix the situation. “We were just always under the impression that God was going to provide, that the source was never-ending,” Regalado said The outcome of the January 29 hearing will determine the fate of the pastor and his failed crypto project, leaving many wondering how this unusual story will unfold in the days to come. 
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Pastor’s Crypto scandal, $1.3M fraud in failed INDXcoin project

Todayq News

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