Denver pastor barred from selling crypto, ordered to pay back $3.4M
Eli Regalado, an online pastor in Denver who made international headlines when his supposedly God-inspired cryptocurrency failed, has been barred along with his wife from selling crypto or other investments for the next 20 years.
The couple has also been ordered to repay $3.4 million.
“The defendants’ lack of understanding of the harm they have caused to their investors, coupled with their admitted desire to continue and expand the INDXcoin scheme, leads the court to conclude that (a ban on selling) is appropriate,” Judge Heidi Kutcher wrote Friday.
The Regalados face 40 criminal counts of theft, fraud and racketeering related to the sale of INDXcoin, but Kutcher’s ruling came in a civil case that the Colorado Division of…
