God told them to sell crypto. Their investors lost everything.
A pastor and his wife are facing fraud accusations after convincing Christian communities to invest in a cryptocurrency they created, which ultimately collapsed. The couple claimed they were acting under divine guidance when launching the digital coin.
Why it matters
This case highlights the vulnerability of religious communities to financial scams and the ongoing regulatory challenges surrounding cryptocurrency projects.
A pastor and his wife created a cryptocurrency and hawked it in Christian communities. When it came crashing down, investors lost millions―and they were accused of fraud.
This article was produced in partnership with Type Investigations and with support from the Fund for Investigative Journalism.
When Eli Regalado first heard God speak to him, he wondered whether he was hallucinating. Now he likens the experience to having “a thought that is not my thought.” Divine words echo in his mind like a line from a movie or the memory of a loved one’s voice. “It’s not ‘You better do this,’” he says. “It’s just a knowing inside you: This is what you do .”
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