DENVER (KDVR) — A Denver grand jury has indicted a Denver pastor and his wife for an alleged cryptocurrency scam targeted at Christians, which made sales of at least $3.4 million.
Denver District Attorney John Walsh announced the indictment on Tuesday, stating Eligio Regalado and his wife, Kaitlyn, are currently facing 40 counts for an alleged scam that occurred between January 2022 and July 2023.
Denver pastor admits he pocketed $1.3M in alleged cryptocurrency scheme
“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. I want to thank the prosecutors and investigators in my office, and, particularly, the investigators with the Colorado Division of Securities and the Colorado Attorney General’s Office, whose outstanding work on the case resulted in this indictment,” said Walsh.
FOX31 obtained the indictment, which stated that Regalado and his wife “have many
years of experience in the marketing industry, and in 2021, decided to start a cryptocurrency
scheme comprising of INDXcoin (the cryptocurrency) and the Kingdom Wealth Exchange
(the platform where INDXcoin would be sold and traded).”
In the indictment, Regalado allegedly advertised “INDXcoin” through churches, in-person and online. This included the couple’s online church, Victorious Grace Church, which operated primarily from the couple’s home in Denver.
FOX31 Newsletters: Sign up to get breaking news sent to your inbox
The document notes a video where Regalado reportedly stated: “It was last October [20]21, that the Lord brought this cryptocurrency to me. He said, ‘Take this to my people for a wealth transfer.’ It has been confirmed a hundred times since then.”
It is also stated that the couple claimed “INDXcoin” would be profitable to prospective and current investors; however, at least $1.3 million was pocketed for personal use.
In 2024, FOX31 reported that Regalado allegedly admitted on his website to pocketing the money and that the creation of the cryptocurrency was made “with no clear exit.”
“I know this looks bad,” Regalado said in the 2024 video.
The 40 counts are as follows:
-
One count of COCCA – pattern of racketeering
-
One count of theft – $1,000,000 or more
-
One count of securities – fraud or deceit
-
18 counts of securities – make untrue statement
-
Two counts of theft – $100,000-$1,000,000
-
15 counts of theft – $20,000-$100,000
-
Two counts of theft – $5,000-$20,000
The DA’s office said in the press release that, allegedly, “INDXcoin” kept a zero value, and all of its investors lost all of their money.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to FOX31 Denver.
