Houston megachurch pastor Kirbyjon Caldwell has been indicted by federal prosecutors for wire fraud and money laundering. He’s accused of taking millions of dollars from the elderly and weak investors.
ABC 13 News, bonds from the Chinese government were sold back in the 40’s when they were worth something. However, by the year 2013 communists seized control of China and the bonds became worthless.
Knowing this, Caldwell and his business partner Gregory Smith sold investors, “pre-revolutionary Chinese bonds,” since 2013. Over those 5 years, the two sold $3.5 million of bonds that court papers say are worthless.
The Securities and Exchange Commission filed an indictment and second civil lawsuit detailing that Caldwell and Smith never paid investors back but kept in close contact with them assuring them they’d pay them back.
The two are looking at hard time in a federal prison and could be forced to pay the money back. Caldwell’s home can get caught in the crossfire as he allegedly used the dirty money to pay for his mortgage.
Caldwell was once the spiritual advisor to former President George W. Bush and put down as a “limited partner” with the Houston Texans.
Caldwell is in now in talks with authorities in Louisiana discussing his surrender in 10 days.
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(Source: ABC 13 News)
(Photo Credit: ABC 13 News Screen Shot)