Overview

• A Denver grand jury charged Eli and Kaitlyn Regalado with 40 felonies, including racketeering, theft and securities fraud, over their INDXcoin token.
• Authorities allege the pair solicited nearly $3.4 million from about 300 investors between January 2022 and July 2023 through faith-based appeals.
• Investigators say at least $1.3 million of investor money was diverted to personal expenses such as home renovations, luxury travel and other purchases.
• State regulators determined INDXcoin held no market value, leaving all participants with total losses, while the couple has maintained it was a “utility coin” exempt from securities laws.
• The Regalados are awaiting a bail hearing in Denver District Court and face parallel civil bench proceedings seeking restitution and a permanent injunction.