177% up to 5BTC + 77 Free Spins!
New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins
A Denver preacher who is suspected of masterminding a $1.3 million bitcoin investment fraud was spotted attending a finance-oriented seminar in Zambia. Eligio Regalado, who is accused of exploiting churchgoers for his own financial advantage, was spotted teaching at Zambia’s Glory Shift Conference in Lusaka on God and money.
Regalado and his spouse were barred from selling securities in Colorado by a court order after they were accused of embezzling money. The couple’s legal issues started when it was alleged that they used money from churchgoers to fund an ostentatious lifestyle.
In response to allegations, Regalado released a video acknowledging the charges but claimed that half of the raised $1.3 million was sent to the IRS, with a portion allocated to renovating a home based on divine guidance. Despite admitting to selling what regulators deemed “worthless” INDX cryptocurrency to around 300 church members, the pastor argued that his actions were directed by God.
Regalado allegedly persisted in giving financial lectures, this time to a Zambian audience, in spite of being under legal examination for the cryptocurrency scheme. He told the audience about the revelation of “a whole world of cryptocurrency” that he received from God.
Conversations concerning the relationship between faith and money have been sparked by Regalado’s activities, which have garnered attention not just for the purported fraud but also for his effort to conflate financial tactics with heavenly direction.
Authorities in Denver are investigating the scope of the alleged financial malfeasance against the pastor, who is still preaching, while he and his wife are the subject of continuing judicial actions.