A Denver pastor, accused of crypto-fraud, has been spotted in the Zambian capital just days after he reportedly failed to appear in court. The pastor, Eligio Regalado, said about half of the misappropriated $1.3 million went to the IRS.
Denver Pastor’s Assets Frozen
The Denver pastor accused of misappropriating $1.3 million raised from members of his church via a cryptocurrency investment scam was spotted in Zambia just a few days after he failed to turn up in court. According to a report by Newsweek, Eligio Regalado was seen preaching about God and finance at a conference in Zambia’s capital Lusaka.
Before his reported appearance at the Glory Shift Conference, Regalado and his wife were charged with defrauding their followers to fund their lavish lifestyle. A court has since issued an order to freeze the couple’s assets as well as barring them from selling securities in the State of Colorado.
A few days after being charged with fraud, Regalado released a video in which he confirmed the Colorado securities regulator’s allegations against him and his wife. He said, however, that half of the $1.3 million was sent to the Internal Revenue Service (IRS), and a few hundred thousand dollars went towards remodeling a home as per divine instructions.
Divine Investment Advice
While he admitted to the regulator’s charges of selling the “worthless” INDX cryptocurrency to some 300 members of his online church, the pastor insisted he was only following God’s instructions. He implied that regulators should consider this factor as well.
Despite getting into trouble with the INDX cryptocurrency project, Regalado reportedly continued preaching the gospel of finance but this time to a Zambian audience.
“I’m going to speak to you today and I am going to speak to you about finances, and I’m going [to] speak to you about how to make money the Kingdom way,” Regalado said.
At the conference, Regalado also told attendants about God’s gift of “a whole world of cryptocurrency” that he has been given.
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