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Fri Mar 30, 2018, 04:14 AM

Louisiana financial planner, Houston pastor indicted

SHREVEPORT, La. (AP) A federal grand jury has charged a Louisiana financial planner and a Texas pastor with bilking investors out of more than $1 million.

U.S. Attorney Alexander C. Van Hook said in a news release Thursday that a 13-count indictment was handed up against 55-year-old Gregory Alan Smith of Shreveport and 64-year-old Kirbyjon Caldwell of Houston. They're accused of wire fraud, money laundering conspiracy to commit those two offenses.

According to the indictment, Smith used his influence as operator and manager of Smith Financial Group LLC in Shreveport, and Caldwell used his influence as pastor of a prominent Houston church to lure investors to pay more than $1 million for Historical Chinese bonds that are not recognized by China's current government and have no investment value.

It says Smith and Caldwell promised high rates of return and instead of investing the funds they used the money to pay personal loans, credit card balances, mortgages, vehicles and other expenses.

https://www.victoriaadvocate.com/ap/state/louisiana-financial-planner-houston-pastor-indicted/article_772d6bfd-e96b-5bdd-bf18-68ed43dc7c96.html

Cross-posted in the Texas Group.

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Reply Louisiana financial planner, Houston pastor indicted (Original post)
TexasTowelie Mar 2018 OP
3Hotdogs Mar 2018 #1
TexasTowelie Mar 2018 #2
3Hotdogs Mar 2018 #3

Response to TexasTowelie (Original post)

Fri Mar 30, 2018, 08:08 AM

1. He's a pastor and Jesus is supposed to provide. Jesus provided $1m. What's the problem?

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Response to 3Hotdogs (Reply #1)

Fri Mar 30, 2018, 08:11 AM

2. FWIW,

the pastor was also a spiritual adviser to Pres. George W. Bush and he leads one of the megachurches in Houston.

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Response to TexasTowelie (Reply #2)

Fri Mar 30, 2018, 08:13 AM

3. I wonder if he supervised Bush's response to the economic meltdown...

the response where the banks got billions and defrauded peeps got zip.

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