At a time when grifters are making oodles of cash by swindling people out of their hard-earned money, there appears to be no shortage of bad actors willing to use Christianity to this end.

Pastor Eli Regalado and his wife are facing fraud charges for using their cryptocurrency to entice people into investing with their organization. However, they allegedly used a sizeable chunk of the money to benefit themselves. The pastor defended his actions by claiming God told them to take the money and use it for extravagant purchases.

Eli Regalado and his wife marketed their cryptocurrency, INDXcoin, to Christian communities in Denver, saying that God told him people would become wealthy if they invested, the Colorado Division of Securities said in a statement Thursday.

INDXcoin raised nearly $3.2 million, the securities division said. At least $1.3 million of that went directly to the Regalados or was "used for their own personal benefit," a complaint filed Tuesday in Denver County District Court said.

Eli and Kaitlyn Regalado could not be reached for comment, but in a video statement to his followers last week, Eli Regalado said the charges that they pocketed $1.3 million "are true."

“Out of the $1.3 [million], half a million dollars went to the IRS and a few hundred thousand dollars went to a home remodel the Lord told us to do," he said in the video.

The couple also allegedly spent their investors’ funds on a Range Rover, luxury handbags, jewelry, an au pair, boat rentals and snowmobile adventures, according to the complaint.

The couple were charged with violating anti-fraud provisions under the Colorado Securities Act.

Perhaps I’m in the wrong line of business. I feel it is only important to mention at this time that the Lord told me to tell you, dear reader, that I have some prime oceanfront property in Idaho to sell you on the cheap. Hit me up for details.

Okay, back to the story.

Colorado's Securities Commissioner explained that she filed the charges after being alerted to the Christian cryptocurrency grift.

Colorado Securities Commissioner Tung Chan told NBC News that she filed the civil fraud charges after she was approached by people who invested and lost money through INDXcoin.

“We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community and that he peddled outlandish promises of wealth to them when he sold them essentially worthless cryptocurrencies,” Chan said in a statement.

Regalado allegedly conned people into investing in his worthless cryptocurrency by claiming God had told him that those who did would become wealthy. He made promises of a “miracle” as they waited for “God’s plan” to materialize. He vowed to use the funds for charitable causes, which apparently included a home remodel and a new Range Rover for him and his wife.

Unfortunately, there are many like Regalado who use faith to take advantage of people. It became a serious problem during the rise of the Prosperity Gospel in which unscrupulous preachers would persuade people to donate to their lavish lifestyles with the promise that God would pour out financial blessings on those who gave their money. Hopefully, this story will be one of several that serve as a cautionary tale for those who might find themselves parted from their cash by charismatic “pastors.”