An American pastor and his wife were arrested and indicted on 40 counts of theft, fraud, and racketeering after telling their followers that 'God told them' to sell crypto.
Eligio and Kaitlyn Regalado solicited $3.4 million (BD1.28 million) in investor money from those looking to buy their cryptocurrency, INDXCoin. Still, only a small amount of the proceeds went to the business venture.
They instead spent at least $1.3 million (BD490,000) on personal expenses, including a home renovation, which they claimed 'the Lord' told them to do.
The couple told investors "to have faith that their investment in INDXcoin would lead to 'abundance' and 'blessings'."
The two were arrested earlier this month, and their next court hearing is set for September 11.
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