Colorado couple accused of inventing church to run crypto scam
The assets of a h US band-and-wife-run online church have been frozen after they allegedly US ed the word of God to trick Christians into investing in a fake Crypto before spending $1.3 million in investor funds on luxury goods. According to a lawsuit submitted by Denver’s State Commissioner on Tuesday, the Victorious Grace Church operated on Facebook and YouTube and was run by pastor Eligio P. Regalado, and his wife, Kaitlyn. Law360 reports that the duo are alleged to have encouraged their followers to trade the worthless INDXcoin Crypto token on Kingdom Wealth Community, the church ’s very own Crypto exchange. The couple apparently US ed “ biblical citations and faith-based appeals ” while telling worshippers that their faith in God would be rewarded. The two crypto projects allegedly used by the Victorious Grace Church. Read more: This alleged $1.3B crypto scam likely faked its own CEO Allegedly, the pair made almost $3.4 million from investors and spent $...