Pastor Eligio Regalado of Denver was spotted in Zambia subsequent to legal hassles, which entailed the freezing of his assets, in connection with a $1.3 million cryptocurrency fraud.
Just days after reportedly missing a court appearance, Eligio Regalado, a pastor from Denver who is facing charges of stealing $1.3 million in a cryptocurrency investment fraud, was seen in Lusaka, the capital of Zambia. At the Glory Shift Conference, Regalado was heard preaching on the subject of God and finance.
The accusations against Regalado and his wife stem from allegations that they used church members as pawns to fund their extravagant lifestyle. The pair can no longer sell securities in Colorado, and the court has also ordered the freezing of their assets. More than $1.3 million of the INDXCoin project’s $3.2 million was allegedly diverted for private use, according to the complaint.
Regalado responded to the claims made by the Colorado securities regulator in a video. He admitted to selling the “worthless” INDX cryptocurrency, but he insisted that heavenly guidance was in control of his actions.
He said that the IRS received $1.3 million, which was half of the stolen monies, and that a few hundred thousand dollars were used for house renovations in accordance with divine direction. Regalado persisted in sharing his financial gospel with an audience in Zambia at the Glory Shift Conference, despite the legal difficulties.
Regalado spoke about crypto and financial success in an African church sermon while he was potentially facing criminal prosecution in Colorado. He boldly said, “I’m going to speak to you today about how to make money the Kingdom way.” He drew connections between Bible scriptures and riches. As Regalado confirmed the allegations of misuse, he assured the crowd that he would keep quiet about the “whole world of cryptocurrency” that God had given him.
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