Denver, Colorado pastor Eli Regalado announced in a YouTube video last April that he would be selling cryptocurrency. The pastor said he was “setting the rails for God’s wealth transfer.” Regalado and his wife then began selling cryptocurrency, dubbed INDXcoin, to members of his Victorious Grace Church and other Christian communities in the Denver area using his “the “Kingdom Wealth Exchange,” an online cryptocurrency marketplace he set up for the purpose. They peddled the holy investment with prayers, quotes from the Bible, and entreaties to have faith in their product. Sure enough, the plan was a godsend, at least for the pastor and his wife: the Regalados raised more than $3.2 million from over 300 investors.

Unfortunately, the INDXcoin was worthless, except for the purpose of making the pastor and his wife rich. The Regalados used around $1.3 million of the supposedly “investment funds” on a Range Rover, jewelry, cosmetic dentistry and vacations, while renovating their Denver home. Hallelujah!

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