US Edition
Waukesha Man Tries to Turn Crypto Mining Hobby Into Business but Is Halted by Own Generator
DENVER COUNTY, COLORADO, JUL 22 – Eli and Kaitlyn Regalado face 40 felony charges for a $3.4 million scam that targeted Christian investors with a worthless cryptocurrency, causing all investors to lose their money.
- Eligio "Eli" Regalado and his wife Kaitlyn, pastors from Denver, were indicted this month on 40 felony counts related to a scheme in which they raised nearly $3.4 million from Christian investors through their cryptocurrency INDXcoin, which authorities say was essentially worthless.
- The scheme unfolded from January 2022 to July 2023, with the couple using faith-based ties to promise wealth through a divine-guided investment despite INDXcoin having zero value.
- Court documents state the Regalados pocketed $1.3 million for personal expenses including cosmetic dentistry, luxury vacations, and home renovations, which they claimed were directed by God.
- Denver District Attorney John Walsh stated that these charges represent significant progress in efforts to ensure the Regalados face justice and to provide some relief to the victims, coinciding with a court order to freeze assets and impose a preliminary injunction.
- Regalado denied wrongdoing in a July 4, 2024 video but did not appear at a recent hearing, and the couple faces ongoing civil fraud charges with their trial scheduled for May.
20 Articles
20 Articles
Waukesha man tries to turn crypto mining hobby into business but is halted by own generator
A Waukesha resident hoping to transform his cryptocurrency mining hobby into a home business has hit a roadblock that's keeping his expensive generator silent. Jacob Budzinski invested $35,000 in a liquid cooling generator to power his growing cryptocurrency mining hobby., But city officials have said he would only be allowed limited use of the generator because of the noise."I say it is louder than an air conditioner but quieter than a lawn mow…
Grand Jury Charges Pastor, Wife in Alleged Multi-Million Dollar Cryptocurrency Scam
A Denver grand jury has indicted a married couple on 40 counts of theft, fraud and deceit, for allegedly operating a multi-million-dollar cryptocurrency scam that mostly targeted churches, the Denver District Attorney announced in a press release on Tuesday.Between 2022 and July 2023, Eli Regalado, who is also a pastor who preaches at the Victorious Grace Church, and his wife Kaitlyn, the only other employee at the church which they host at thei…
An elderly man from Hranice in the Přerov region came across a scammer when he wanted to increase his money by investing in cryptocurrency. Instead of the desired profit, he lost tens of thousands of crowns. When he found out, he went to the local police department.
Instagram advertising sounded convincing: investing in the purchase of equipment to mount cryptocurrency mining “farms” and receiving monthly earnings of 5%. But it sounded too good to be true. Those who bet through the cryptofarm app charged the promised interest a couple of times, and then, the nothing that preceded the certainty that they had fallen into a scam.
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