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God Told Him to Launch a Crypto Venture, Said Pastor. Now He's Accused of Pocketing $1.2M
In Denver, Colorado, a pastor had a message for his congregation, reports CNN. "After months of prayers and cues from God, he was going to start selling cryptocurrency, he announced in a YouTube video last April." The Signature and Silvergate banks had collapsed weeks earlier, signaling the need ...
The couple's sales pitches were filled with "prayer and quotes from the Bible, encouraging investors to have faith that their investment ... would lead to 'abundance' and 'blessings,'" the complaint said. Instead of helping investors acquire wealth, the Regalados used around $1.3 million of the investment funds to bankroll lavish expenditures, including a Range Rover, jewelry, cosmetic dentistry and extravagant vacations, the complaint said. In a stunning video statement posted online on January 19 — several days after the civil charges were filed — Eli Regalado did not dispute that he and his wife profited from the crypto venture.
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