Victorious Grace Church Pastor Eli Regalado and his wife Kaitlyn are accused of spending $1.3 million fleeced from their flock in a crypto-scam - including a home renovation they claimed “'the Lord' told them to do," the Denver DA's office said.
A grand jury returned a 40-count indictment this week alleging the pair solicited nearly $3.4 million selling a worthless cryptocurrency dubbed INDXcoin by "promising exorbitant returns," the DA's office said.
It also alleges that "only a small amount of the proceeds went to the business venture and that the Regalados spent at least $1.3 million on personal expenditures, including a home renovation that they have allegedly claimed 'the Lord' told them to do," the DA's office said.
"As alleged, INDXcoin maintained zero value and all of the investors lost all of their money," the DA's office said.
Victorious Grace Church operated online.
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