Megachurch pastor, ex-adviser to Dubya indicted for conning elderly out of $3.5M

The pastor had quite the pyramid scheme going and scammed vulnerable folks out of millions.

Prosperity Doctrine is working it’s Lord Jesus Magic. A GOP connected megachurch pastor has been indicted on fraud charges. Who’s surprised? Are you surprised? Is any-body sur-prized?

Kirbyjohn Caldwell, spiritual advisor to President George W. Bush who performed first daughter Jenna’s wedding, is facing 13 charges of fraud for selling bunk Chinese bonds to elderly investors. So according to prosperity doctrine this is okay, because he made millions, right? Money is God Lord’s blessing, right? PSST...This isn’t even his first time defrauding people, in 2010 he received a wrist slap for ‘misappropriating funds.’

The new charges facing Pastor Caldwell of Windsor Village United Methodist Church are 13 counts of conspiracy, wire fraud and money laundering. The Securities and Exchange Commission says he used his position of authority over 16,000 church members to trick people into investing in bonds that are not even recognized by the Chinese government. He convinced 29 people to invest $3.5 million that he promised would return 15 times the investment. The indictment describes the bonds as “mere collectible memorabilia.“ U.S. Attorney Alexander C. Van Hook said, “These bonds were issued by the former Republic of China prior to losing power to the communist government in 1949...not recognized by China’s current government and have no investment value.”

Pastor Caldwell used the alias Turner Hines when communicating with investors because obviously he has nothing to hide. The indictment contains email evidence, in one case he told an $800,000 investor that the bonds were backed by silver and gold. Other emails show that when investors tried to cash out, Pastor Caldwell said there were problems with currency exchange, and blamed the International Monetary Fund and the World Bank.

Dan Cogdell, the good pastor’s attorney, said “His dealings in these transactions were always in good faith and in an absolute belief that the investors would positively benefit." All the investors lost their money, and if convicted the Pastor could face 30 years in prison and a $1 million fine. "Just because it hasn’t happened yet doesn’t mean it won’t happen,” Pastor Caldwell said as he claimed the bonds will eventually pay out.

Thoughts and prayers they do.

By Being Liberal contributor: Sarah Ficca

Comments

Stories