Houston megachurch pastor Kirbyjon Caldwell will surrender to authorities sometime in the next week, his lawyer said at a press conference Friday. Caldwell was indicted on federal charges of wire fraud and money laundering this week. He denies any wrongdoing.
JUST IN: Houston pastor Kirbyjon Caldwell and a Louisiana financial planner have been accused of defrauding investors of more than $1 million: https://t.co/nNG6cfd96Z pic.twitter.com/8ZlDuaGLxE
— KHOU 11 News Houston (@KHOU) March 29, 2018
The federal indictment accuses Caldwell and another man, Gregory Alan Smith, of selling $3.4 million worth of pre-revolutionary Chinese bonds, which were in default, to the “vulnerable and elderly.”
Prosecuters claim those bonds are in default, though Caldwell says he still believes the bonds are “legitimate” and expects a return on the investments. Cladwell claims to have invested “hundreds of thousands” of dollars of his own money into the bonds and to have returned around a million dollars in investor’s money.
FULL EXCLUSIVE INTERVIEW: Kirbyjon Caldwell told @ABC13Miya that he absolutely believed the bonds were worth more than he sold them for. He said he has refunded nearly $1M out of his own pocket. Said he has evidence. https://t.co/kK5z7BxRZs pic.twitter.com/ZAu8By2jpO
— ABC13 Houston (@abc13houston) March 30, 2018
The indictment also claims Caldwell used his position in the Windsor Village United Methodist Church to influence investors to buy the bonds. Cladwell claims he did not sell to church members. Caldwell was formerly a spiritual adviser to both Presidents George W. Bush and Barack Obama.
When asked about his relationship with Gregory Alan Smith and whether Smith may have misled him about the bonds, Caldwell declined to answer.