SEC Approves New Standards for Digital Asset ETF Listings

The post U.S. Court Finds Pastor Found Guilty in $3M Crypto Scam appeared on BitcoinEthereumNews.com. Crime 18 September 2025 | 04:05 A Colorado judge has brought closure to one of the state’s most unusual cryptocurrency scandals, declaring INDXcoin to be a fraudulent operation and ordering its founders, Denver pastor Eli Regalado and his wife Kaitlyn, to repay $3.34 million. The ruling, issued by District Court Judge Heidi L. Kutcher, came nearly two years after the couple persuaded hundreds of people to invest in their token, promising safety and abundance through a Christian-branded platform called the Kingdom Wealth Exchange. The scheme ran between June 2022 and April 2023 and drew in more than 300 participants, many of them members of local church networks. Marketing materials portrayed INDXcoin as a low-risk gateway to prosperity, yet the project unraveled almost immediately. The exchange itself collapsed within 24 hours of launch, wiping out investors’ money. Despite this failure—and despite an auditor’s damning review that gave the system a “0 out of 10” for security—the Regalados kept presenting it as a solid opportunity. Colorado regulators argued that the couple’s faith-based appeal was central to the fraud. Securities Commissioner Tung Chan said the Regalados “dressed an old scam in new technology” and used their standing within the Christian community to convince people who had little knowledge of crypto. For him, the case illustrates how modern digital assets can be exploited to replicate classic Ponzi-style tactics under a different name. Court filings revealed where much of the money ended up: luxury goods, vacations, jewelry, a Range Rover, high-end clothing, and even dental procedures. In a video that drew worldwide attention earlier this year, Eli Regalado admitted the funds had been spent, explaining that a portion went to taxes while the remainder was used for a home renovation he claimed was divinely inspired. The judgment not only confirms that INDXcoin qualifies as a…

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PANews reported on September 18th that, according to the U.S. Department of Justice website, Ramil Ventura Palafox, CEO of Praetorian Group International, pleaded guilty to operating a Bitcoin Ponzi scheme involving over $200 million. The scheme lured over 90,000 investors worldwide by falsely promising daily returns of 0.5% to 3%, then used new investors' funds to pay existing investors. Palafox used the funds to purchase luxury cars, homes, and other luxury goods, resulting in investor losses exceeding $62 million. He will be sentenced on February 3, 2026, and faces up to 40 years in prison. He has also agreed to pay full restitution.