One-hundred percent innocent!
That’s what Dan Cogdell, the attorney for Pastor Kirbyjon Caldwell said about a lawsuit that was recently filed against his client.
Caldwell is the senior pastor of the mega church Windsor Village United Methodist in southwest Houston. He has been a minster there for two decades.
The suit alleges the pastor and his financial planner, Gregory Alan Smith, defrauded investors of millions of dollars in exchange for Chinese bonds that had no value.
According to court documents, Caldwell and Smith scammed at least 29 people into buying bonds for a total of $3.4 million between April 2013 and August 2014.
The pair told investors that the historical Chinese bonds were risk-free returns on their investments and that the bonds would be sold by Caldwell to a third-party or redeemed by the Chinese government.
According to court documents, none of the investors received any money back.
The indictment says Caldwell received $760,000 which he used for personal expenses, including mortgage payments, the indictment claims.
The pastor’s limited liability company also received money.
Smith received a $1 million of investor funds, which he used for luxury vehicles.
Now, Cogdill says within a week the pastor will surrender to federal authorities in Shreveport, Louisiana, where the case will be tried.