"Lord Told Us to Do It": Pastor Scams Christian Followers, Steals $1.3m Through Fake Cryptocurrency

• A US Pastor has said he pocketed $1.3 million based on God's instruction after he had sold a worthless cryptocurrency to his people
• Eli Regalado and his wife, Kaitlyn, have been charged with fraud allegation by the office of the Colorado Attorney General after attributed their action to "God's directive"
• Regalado, who confessed to the crime, said some of the proceeds have gone for remodelling of his house

Legit.ng journalist Bada Yusuf is an accomplished politics and current affairs editor, boasting over seven years of experience in journalism and writing.

Colorado, US - A US Pastor who pocketed $1.3 million after selling a worthless cryptocurrency to his congregation has used some of the proceeds to remodel his house and insisted that his action was based on the directives from God.

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The US Pastor, Eli Regalado and his wife, Kaitlyn, are currently facing a lawsuit over the allegation of introducing the so-called INDXcoin to Christians in Colorado.

The pair were said to have given their members a divine assurance that they would become rich.

According to The Guardian, the investigator said it found 300 people invested $3.2 million into what Regalado and his wife claimed to be a directive from God.

This was contained in a complaint filed by the office of the Colorado Attorney General.

US online pastor sold fake cryptocurrency

This is coupled with the fact that the pastor and his wife, who run an online church, do not have experience in cryptocurrency. This was contained in a statement released by the body that regulates the securities market, the Colorado Division of Securities.

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US pastor who pocketed investors' $1.3m says God told him to do it

Speaking on the fraud allegation, the cleric reiterated his commitment to a message of a God-given mission and confessed that some of the cash had been used for his home improvement, which he said was part of the instruction given from above.

In a video posted on the INDXcoin, Regalado said:

"Out of that 1.3, half a million dollars went to the IRS, and a few $100,000 went to a home remodel that the Lord told us to do."

See the video of his confession here:

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Source: Legit.ng