Pastor Eli and Kaitlyn Regalado with nutter Chaplain Gordon Klingenschmitt
Speaking to online followers Aug. 22, 2022, Rev. Eli Regalado had a divine message. “It was last October 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,” the pastor said, according to a lawsuit filed in Denver this week.
Regalado, a Denverite who, alongside his wife Kaitlyn, runs the online-only Victorious Grace Church, is also the creator of the cryptocurrency INDXcoin and the Kingdom Wealth Exchange, the only online marketplace where INDXcoin could be bought and sold. Both INDXcoin and the exchange were shut down on Nov. 1, leaving investors scrambling for answers.
“Stay where you’re at. Stay in INDXcoins. Stay with where I’m telling you to go. I’m going to make a way,” the Lord said to crypto investors, according to Regalado. “Just take that word as gospel truth and execute on that word and do not worry about how the money’s going to happen. I really believe you’re going to see a miracle in very short order.”
The state’s securities commissioner, Tung Chan, said the Regaldos spent at least 1.3 million on a Range Rover, jewelry, luxury handbags, cosmetic dentistry, boat rentals and snowmobile adventures, home renovations and an au pair.