Pastor Accused of Scamming Followers Out of $3.2 Million Claims He Might Have ‘Misheard’ God
A preacher in Colorado who was charged with civil fraud now claims he may have "misheard" God.
According to KGUN9, Eli Regalado is accused of scamming his followers out of $1.3 million in a cryptocurrency fraud scheme.
The online pastor now claims the Lord made him do it.
In an online video message posted to the INDXcoin website, Regalado noted that the charges are "true" and that he and his wife spent “a few hundred thousand dollars” on “a home remodel that the Lord told us to do.”
“Either I misheard God, and every one of you who prayed and came in... you as well. Or two, God is still not done with this project,” Regalado said, claiming he doesn't want his followers to be "mad" at prosecutors who are simply doing their job.
“We took God at his word and we sold a cryptocurrency with no clear exit,” Regalado admitted.
Regaldo, who had no prior experience in cryptocurrency, added he was inspired to sell INDXcoin because “God is in the business of doing new things and breaking seals, and he did tell us to do this.”
According to the legal complaint, the pastor raised $3.2 million by targeting the Christian community.
“We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community and that he peddled outlandish promises of wealth to them when he sold them essentially worthless cryptocurrencies,” Colorado Securities Commissioner Tung Chan said.
Regalado stands accused of violating Colorado’s anti-fraud, licensing and registration laws.
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