Faith and Fraud: Denver Pastor Couple Indicted for $3.4M Crypto Scam

A Denver pastor and his wife are at the center of a $3.4 million crypto fraud case that blends religious rhetoric with financial misconduct. Eli and Kaitlyn Regalado, who claim ordination through Destiny Churches and Ministries International, now face 40 felony charges for allegedly deceiving over 300 investors between January 2022 and July 2023.

The scheme revolved around INDXcoin, a cryptocurrency the couple marketed as divinely inspired and destined to redistribute wealth to the faithful. Promoted through their online-only ministry, Victorious Grace Church, and a related trading platform called Kingdom Wealth Exchange, INDXcoin attracted millions in investment—despite never holding any real market value, according to prosecutors.

Court filings allege that the Regalados exploited their spiritual standing to promote exaggerated claims of financial returns. The couple reportedly used more than $1.3 million in investor funds to finance personal luxuries, including designer goods, a Range Rover, and home renovations they said were guided by divine instruction.

Even after investors began to question the legitimacy of INDXcoin due to nonexistent returns, Eli Regalado maintained that divine timing was the cause and encouraged them to remain invested. “The Lord told us to do it,” the couple reportedly said in reference to their use of the funds.

Denver District Attorney John Walsh stated, “These charges mark a major step forward in our work to hold the Regalados accountable for their alleged crimes and to bring a measure of justice to the victims.”

In a since-deleted video from January 2024, Eli Regalado conceded that the allegations were accurate, but insisted “God is not done with this INDXcoin,” urging followers to stand by them.

The case underscores broader vulnerabilities within the cryptocurrency sector, particularly when unregulated digital assets are marketed through faith-based communities. It also adds to the growing scrutiny of crypto-related fraud in the United States, especially when religious authority is used as a vehicle for financial exploitation.