Houston megachurch pastor and spiritual adviser to George W. Bush - indicted on fraud charges
A prominent Houston pastor and spiritual adviser to President George W. Bush has been indicted on federal charges that he sold millions of dollars in worthless Chinese bonds to elderly and vulnerable investors, according to federal authorities.
Kirbyjon H. Caldwell, 64, and Shreveport financial planner Gregory Alan Smith, 55, were charged with 13 counts of conspiracy, wire fraud and money laundering.
Caldwell is accused of using his position as the senior pastor of the Windsor Village United Methodist Church to help lure nearly $3.5 million in investments into historic Chinese bonds that are not recognized by the Chinese government. He and Smith told investors they could see returns as high as 15 times their initial investment, according to the indictment.
The charges, filed by the Securities and Exchange Commission, accuses the men of cheating 29 investors between April 2013 and August 2014 for the bonds, which are described in the indictment as “mere collectible memorabilia.”
Read more: https://www.chron.com/news/houston-texas/houston/article/Kirbyjon-Caldwell-Houston-megachurch-pastor-and-12792523.php?ipid=happening
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