Denver Pastor Accused of Crypto Fraud Spotted in Zambia
A Denver pastor who has been accused of misappropriating $1.3 million from members of his church through a cryptocurrency investment scam was recently spotted in the Zambian capital, Lusaka, despite failing to appear in court. Newsweek reports that Eligio Regalado was seen preaching at a conference in Lusaka, discussing the topics of God and finance.
Assets Frozen and Selling Securities Barred
Prior to his appearance in Zambia, Regalado and his wife were charged with defrauding their followers to fund their extravagant lifestyle. As a result, a court ordered their assets to be frozen and barred them from selling securities in the State of Colorado.
Regalado Admits to Fraud Allegations
In a video released after the fraud charges, Regalado confirmed the allegations made against him and his wife by the Colorado securities regulator. He claimed that half of the misappropriated funds were sent to the IRS, while a portion was used for home remodeling based on divine instructions.
Divine Investment Advice and Preaching in Zambia
Despite admitting to selling the “worthless” INDX cryptocurrency to his online church members, Regalado argued that he was simply following God’s instructions. He continued to preach the gospel of finance, this time to a Zambian audience, discussing how to make money “the Kingdom way” and sharing insights about God’s gift of cryptocurrency.
Hot Take: Disgraced Pastor Continues Preaching Finance Despite Cryptocurrency Scam Allegations
A pastor from Denver, Eligio Regalado, has been spotted in Zambia after failing to appear in court for allegations of running a cryptocurrency investment scam. Regalado and his wife have been charged with defrauding their followers, resulting in their assets being frozen and a ban on selling securities. Despite admitting to the fraud, Regalado claims to have sent a portion of the funds to the IRS and used some for home remodeling based on divine instructions. He continues to preach about finance, this time in Zambia, sharing his thoughts on making money “the Kingdom way” and discussing the concept of cryptocurrency as a divine gift.
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