Online Pastor: God Told Me To Set Up a Crypto Currency as a "Wealth Transfer"

[Brainster]

You can probably guess to whom the wealth was being transferred:

The couple had sold a cryptocurrency they called “INDXcoin” to their Christian followers, claiming that it would make them rich.

And it did:

“The red flags were their expenses for personal purposes,” Ioana Dobra, a fraud investigator with the Colorado Division of Securities, said about an audit of the couple’s bank accounts. The audit found that the couple had spent some of the money on “jewelry purchases, vacations, airline tickets, clothing, and home remodeling.”

Guess who they think is to blame?

"We sold a cryptocurrency with no clear exit. We did," he told viewers. "We took God at His word and sold a cryptocurrency with no clear exit. And so, the prosecutors have to take that and say, 'These people willingly sold a cryptocurrency with no clear exit.' What we're praying for and what we're believing for still is that God is going to do a miracle. God is going to work a miracle in the financial sector."

And the home remodeling? Just following orders:

"There's been $1.3 million that's been taken out of, I think it was, a total of $3.4 million. But out of that $1.3, half a million dollars went to the IRS, and a few hundred thousand went to a home remodel that the Lord told us to do," Regalado said in a nine-minute video to his followers that was reset to private last year.

 

[Puppycow]

What does "a cryptocurrency with no clear exit" even mean? What exactly is an "exit" to a cryptocurrency? Do other cryptocurrencies have "exits"?

What makes this a crime and Trump's memecoins not a crime? Promises made? Or because he's the president?

 

[Thermal]

"Naw man, I'm serious. God told me to take a few hundred thousand of that for a home remodel. Stop laughing, I said!"

 

[Andy_Ross]

It got a lot of coverage when the story broke.

Penguiz0 did a good video on it