A Denver pastor accused of defrauding his congregation through a cryptocurrency investment scheme has been spotted in Zambia’s capital Lusaka, just days after failing to appear in a U.S. court. According to Newsweek, Eligio Regalado was seen preaching about “God and finance” at the Glory Shift Conference.
Charges and Asset Freeze
Regalado and his wife were charged with selling a “worthless” cryptocurrency called INDX to approximately 300 members of his online church, raising about $1.3 million. Authorities allege the funds were used to fund a lavish lifestyle. A Colorado court has issued a freeze on the couple’s assets and barred them from selling securities in the state.
In a video released after the charges, Regalado admitted to the allegations but claimed that roughly half of the money went to the IRS and several hundred thousand dollars were used for home renovations under “divine instructions.” He maintained that he was simply following God’s orders.
Continued Ministry in Zambia
Despite the legal troubles, Regalado continued his financial preaching abroad. “I’m going to speak to you about finances, and how to make money the Kingdom way,” he told the Zambian audience. He also mentioned that God had gifted him “a whole world of cryptocurrency.” It is unclear whether extradition proceedings have been initiated.