PRESS RELEASE. Geneva, Switzerland, March 4, 2024 – The TRON DAO team attended ETH Denver, one of the leading events in the blockchain space. In conjunction with this, the TRON Builder Tour (TBT) ETH Denver event unfolded, drawing enthusiasts into the dynamic world of the TRON ecosystem with an event packed with insights, networking, and […]
Bitcoin News
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, and Conflux
PRESS RELEASE. Supermoon, alongside Cointelegraph Accelerator, NDC, Horizen, Conflux, and OORT, will welcome 500+ builders & founders at BUIDL HOUSE event during EthDenver 2024! This three-day open house event, located only five minutes from the Eth Denver conference, will run from February 29 to March 2. It is set to be the biggest networking gathering […]
Bitcoin News
Crypto Fraud-Accused Denver Pastor Preaches Finance in Zambia Just Days After Skipping U.S. Court
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 .3 million went to the IRS.
Denver Pastor’s Assets Frozen
The Denver pastor accused of misappropriating .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 .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.
What are your thoughts on this story? Let us know what you think in the comments section below.
Denver Pastor Accused of Misappropriating $1.3 Million Raised via a Crypto Token Sale
The Colorado Securities regulator has accused the pastor of an online-only church of illegally pocketing .3 million which was raised via the sale of a cryptocurrency he created. A judge in Colorado has since ordered the closure of the pastor and his wife’s bank accounts for 14 days.
‘The Lord Brought This Cryptocurrency to Me’
The securities regulator in Colorado has charged Reverend Eli Regalado, creator of the cryptocurrency INDX coin and pastor of the online-only Victorious Grace Church, with selling “worthless” INDX coins for .4 million sometime in 2022 and during the first half of 2023. Tung Chan, Colorado’s securities commissioner, filed a lawsuit on Jan. 16, accusing Regalado of ensuring that investors in his coin did not recoup their investment.
According to a report by the Denver Post, Regalado pocketed .3 million from the token sales, which he spent on a Range Rover, jewelry, luxury handbags, cosmetic dentistry, and boat rentals.
The lawsuit suggests that Regalado used his position as a religious leader to convince his followers to invest in cryptocurrency. For instance, in one sermon on Aug. 22, 2022, Regalado told his followers that his lord had instructed him to create the now-defunct crypto asset.
“It was last October that the Lord brought this cryptocurrency to me. He said, ‘Take this to my people for a wealth transfer.’ It has been confirmed a hundred times since,” Regalado reportedly said.
INDX Coins ‘Technologically Deficient’
Additionally, in what may have been an attempt to dissuade investors from offloading their holdings, Regalado claimed that the Lord had asked his followers to “stay in INDX coins.”
However, in her lawsuit, Chan accused Regalado and his wife Kaitlyn Regalado of falsely claiming that the INDX coins were worth at least each or 0 million for the 30 million coins. Chan also described the cryptocurrency and the only marketplace where INDX coins were traded as being “catastrophically technologically deficient.”
Following the filing of the lawsuit, U.S. Judge David Goldberg ordered the Regalados’ bank accounts and those of associated companies to be closed for 14 days. Additionally, the judge prohibited the Regalados from selling securities in Colorado.
What are your thoughts on this story? Let us know what you think in the comments section below.
Denver to Pilot Blockchain Mobile Voting for May Municipal Elections
The post Denver to Pilot Blockchain Mobile Voting for May Municipal Elections appeared first on DCEBrief.