Denver Pastor Crypto Faud: A court in Colorado found that Eli and Citelin Regalado sold Indxcoin to the community of their church with a distortion of its value and the use of investor money for personal expenditures. The court ordered $ 3.39 million in recovery and imposed a 20 -year securities ban; Criminal accusations are suspended.
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The court found that Regalados violated the laws of securities in the state and investors in the church.
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The couple collected money from at least 596 investors via Indxcoin and SumCoin offers and returns deposited in personal accounts.
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The ruling requires payment of $ 3.39 million, and appears 1.3 million dollars spent on luxury items, and includes a 20 -year -old ban.
Denver Bassour Fraud at Colorado Kolorado orders Eli and Citelin Regalado pay $ 3.39 million after selling Indxcoin to church investors. Read the full ruling summary.
What is the ruling on fraud in Denver the priest?
Denver Bassour fraud He refers to the Colorado County Court, which concluded that Eli and Citelin Regalado sold a symbol called Indxcoin to the community of their church with its distortion and safety. The court ordered the amount of $ 3.39 million of recovery and imposed a banquet for 20 years of papers after the end of the distinguished code as a security under the state law.
How did Recelados raise money and use the investor money?
The state’s testimony shows that regalados has promoted Indxcoin with religious framing, saying that divine guidance has directed the creation of the distinctive symbol. They formed a “prophetic team” and made decisions affected by prayer, which they used to market the distinctive symbol of the church members and other investors.
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The records in the court indicate that they raised money from at least 509 investors from Indxcoin and 87 investors in SUMCOIN, and deposited returns in bank accounts they control, and used at least $ 1.3 million on personal expenses including luxury goods, vacations, cars and re -renewal of homes.
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Related questions
What did the court say about the value of Indxcoin?
The ruling stated that “Indxcoin was of no value because no one wanted to buy it,” and found that Regalados had offended the liquidity of the distinctive symbol and its safety for buyers.
How much money is spent on personal things?
Court records show at least $ 1.3 million of investor funds at personal expenses, including luxury handbags, jewelry, vacations, cars and home renovations.
Who provided the implementation procedure?
An enforcement procedure and a statement of the ruling was issued by the Securities Department of Colorado and entered by the Local Denver Court (Judge Kutcher).
Colorado’s decision in the case of fraud in Denver Reverend is an encryption rolling over organizational scrutiny when using religious accounts to market investments. The judgment combines civil recovery with long -term securities restrictions while criminal charges are progressing. Investors must check regulatory claims and liquidity before purchasing the symbols promoted by the leaders of faith or private groups.
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Source: https://en.coinotag.com/denver-ruing-suggests- Endxcoin-sales-may-have-have-NERCHURCH-INVESTORS-DERS-3-39m-repay/