Denver Ruling Suggests INDXcoin Sales May Have Defrauded Church Investors, Orders $3.39M Repayment
The post Denver Ruling Suggests INDXcoin Sales May Have Defrauded Church Investors, Orders $3.39M Repayment appeared on BitcoinEthereumNews.com. Denver pastor crypto fraud: A Colorado court found Eli and Kaitlyn Regalado sold INDXcoin to their church community while misrepresenting its value and using investor funds for personal expenses. The court ordered $3.39 million in restitution and imposed a 20-year securities ban; criminal charges are pending. Court found the Regalados violated state securities laws and defrauded church investors. The couple raised funds from at least 596 investors across INDXcoin and Sumcoin offerings and deposited proceeds into personal accounts. Judgment demands $3.39M repayment, shows $1.3M spent on luxury items, and includes a 20-year securities ban. Denver pastor crypto fraud: Colorado court orders Eli and Kaitlyn Regalado to repay $3.39M after selling INDXcoin to church investors. Read the full ruling summary. What is the Denver pastor crypto fraud ruling? Denver pastor crypto fraud refers to a Colorado District Court finding that Eli and Kaitlyn Regalado sold a token called INDXcoin to their church community while misrepresenting its value and safety. The court ordered $3.39 million in restitution and imposed a 20-year securities ban after concluding the token qualified as a security under state law. How did the Regalados raise funds and use investor money? State testimony shows the Regalados promoted INDXcoin with religious framing, saying divine guidance directed the token’s creation. They formed a “Prophetic Team” and made decisions influenced by prayer, which they used to market the token to church members and other investors. ‘, ‘
The post Denver Ruling Suggests INDXcoin Sales May Have Defrauded Church Investors, Orders $3.39M Repayment appeared on BitcoinEthereumNews.com.
Denver pastor crypto fraud: A Colorado court found Eli and Kaitlyn Regalado sold INDXcoin to their church community while misrepresenting its value and using investor funds for personal expenses. The court ordered $3.39 million in restitution and imposed a 20-year securities ban; criminal charges are pending. Court found the Regalados violated state securities laws and defrauded church investors. The couple raised funds from at least 596 investors across INDXcoin and Sumcoin offerings and deposited proceeds into personal accounts. Judgment demands $3.39M repayment, shows $1.3M spent on luxury items, and includes a 20-year securities ban. Denver pastor crypto fraud: Colorado court orders Eli and Kaitlyn Regalado to repay $3.39M after selling INDXcoin to church investors. Read the full ruling summary. What is the Denver pastor crypto fraud ruling? Denver pastor crypto fraud refers to a Colorado District Court finding that Eli and Kaitlyn Regalado sold a token called INDXcoin to their church community while misrepresenting its value and safety. The court ordered $3.39 million in restitution and imposed a 20-year securities ban after concluding the token qualified as a security under state law. How did the Regalados raise funds and use investor money? State testimony shows the Regalados promoted INDXcoin with religious framing, saying divine guidance directed the token’s creation. They formed a “Prophetic Team” and made decisions influenced by prayer, which they used to market the token to church members and other investors. ‘, ‘
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