According to CoinDesk, Pastor Eli Regalado and his wife Kaitlyn are facing charges for defrauding investors of $1.3 million through their cryptocurrency project, INDXcoin. Colorado Securities Commissioner Tung Chan filed the charges against the couple, accusing them of pocketing the funds while leaving over 300 investors with no way to recover their money. In a video message, Regalado admitted to the charges and claimed that God instructed him to create the cryptocurrency and give investors ten times their investment. The couple allegedly used the funds for personal expenses, including a home remodeling project. A court hearing is scheduled for January 29.