Post Reply Megachurch pastor indicted on $3.5 million dollar fraud
mxdan 
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Posted 3/30/18 , edited 3/30/18
http://abcnews.go.com/US/megachurch-pastor-indicted-35-million-fraud/story?id=54117145


A former religious adviser to President George W. Bush has been accused by federal prosecutors of defrauding investors of $3.5 million.

Pastor Kirbyjohn Caldwell and a business partner, Gregory Smith, sold millions of dollars of worthless Chinese bonds, telling investors to "remain faithful and that they would receive their money," according to documents obtained by ABC Houston station KTRK.

Both men could face significant jail time and be forced to forfeit assets.

Caldwell's lawyer tweeted out a statement, according to KTRK, that said his client was "falsely accused" and "would be absolved."


Some more details:


SHREVEPORT, Louisiana (KTRK) -- The allegations against Pastor Kirbyjon Caldwell are disturbing. Federal prosecutors alleging the long-time pastor bilked millions from elderly and vulnerable investors.

None of the money was ever paid back. Now he and a business partner could be headed for prison in a scheme that seems too good to believe.

In the 1940's, the Chinese government offered bonds for sale.

Back then they might have been worth something, but by 2013, the communists were firmly in control of China and the bonds were worthless.

But federal prosecutors allege that didn't stop Pastor Caldwell and investment adviser Gregory Smith from offering investors quick and impressive returns on pre-revolutionary Chinese bonds starting in 2013 and continuing for years.

They allegedly sold nearly $3.5 million worth. Court papers suggest they aren't worth anything.

An indictment and second civil lawsuit filed by the Securities and Exchange Commission allege the pair never paid any investor back, but kept them on the hook with frequent investor calls and promises of pay back.


God loves money...?

Humms 
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Posted 3/30/18 , edited 3/30/18
No

God is money

In God we trust
qwueri 
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Posted 3/30/18 , edited 3/30/18
The "prosperity gospel" in general is a black eye on Christianity.
runec 
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Posted 3/30/18 , edited 3/30/18

qwueri wrote:
The "prosperity gospel" in general is a black eye on Christianity.


Less of a black eye. More of persistent anal polyp.

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Posted 3/30/18 , edited 3/30/18
banks the real churches! but it's sort of sad how "religions" are so cruel and think, because they follow certain religions they are above the law. as this isn't that common, it does happen often enough. at least once a month I hear of someone abusing their power regarding religion and money, so, perhaps it is more common than I once thought. let's hope the dude is held accountable for his actions, sometimes, a tiny bit more money funneled to the right channels makes all their troubles go away.
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Posted 3/31/18 , edited 4/1/18
Word of Faith Prosperity Gospel has been doing this for decades. I can care less that they're conned their money, but they believe this damning heresy.
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Posted 4/5/18 , edited 4/5/18
I am not surprised. A story like this is hardly new.
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