Eli and Kaitlyn Regalado face 40 counts, accused of defrauding over 300 investors through their INDXcoin scheme, with substantial funds diverted for personal use.
Eli Regalado and his wife, Kaitlyn, have been indicted on 40 counts for allegedly defrauding over 300 investors of more than $3 million through their INDXcoin cryptocurrency. Prosecutors claim they spent $1.3 million on personal expenses while the token had no real value. This case highlights the ongoing issue of cryptocurrency scams targeting faith-based communities, with total losses from such frauds exceeding $2.2 billion in the first half of 2025.