Barack Obama, Chinese bonds, Money Laundering, News, Politics, President George W. Bush, Rev. Kirbyjon Caldwell, Windsor Village United Methodist Church -

Pastor with ties to Obama and Bush turns himself in after being accused of Chinese bond scheme

Barack Obama, Chinese bonds, Money Laundering, News, Politics, President George W. Bush, Rev. Kirbyjon Caldwell, Windsor Village United Methodist Church -

Pastor with ties to Obama and Bush turns himself in after being accused of Chinese bond scheme

The pastor of a Houston megachurch and former spiritual adviser to both Presidents Barack Obama and George W. Bush will turn himself in Monday on charges of taking millions from investors in a Chinese bond scheme, reports ABC News.
The Rev. Kirbyjon Caldwell was expected to go before a magistrate judge at the U.S. Attorney’s office in Shreveport, La., said his attorney Dan Cogdell.

“The surrender date will be arranged on Monday,” Cogdell told ABC News. “Rev. Caldwell and I will travel to Shreveport and seek a bond from the judge, which I believe the government will agree to.”

Monday’s move is tied to a 13-count indictment that accuses Caldwell, 64, and his business partner, Gregory Smith, 55, with wire fraud and conspiracy to commit money laundering while raising about $3.5 million in Historical Chinese bonds from 29 investors in 2013 and 2014.

Justice Department releases details

In a press release issued March 29, the Department of Justice said the bonds were issued by the former Republic of China before it lost power to the communist government in 1949.

READ MORE:  Soledad O’Brien shuts down Tomi Lahren with masterful clapback

“They are not recognized by China’s current government and have no investment value,” the press release explained.

Instead of investing the cash, Caldwell and Smith used the funds to pay off personal loans, credit card bills, mortgages, vehicles and other personal expenses, according to the Department of Justice.

Pastor says bonds are legitimate

Caldwell told KTRK/ABC13 in an interview Friday that everyone who asked for their money to be returned has received it and that he has proof that the bonds are legitimate.

Both men face 30 years in prison if convicted, ABC News reported.

READ MORE:  Rapper Fabolous caught on tape threatening ‘Love and Hip-Hop’ star Emily B

Caldwell is the faith leader of Windsor Village United Methodist Church, which seats about 7,000 people.

Caldwell’s Easter sermon 

In his Easter Sunday sermon, Caldwell told the packed-to-capacity church, “on the road to glory you have painful pit stops and this is a pit stop.”

Caldwell was a speaker at the Republican National Convention in 2000 and gave the benediction at the inauguration of President George W. Bush in 2001. In 2008, President Obama called on Caldwell as a member of his prayer team, according to Newsweek.

The post Pastor with ties to Obama and Bush turns himself in after being accused of Chinese bond scheme appeared first on theGrio.


Leave a comment

Related Posts

It’s an Air Force Reserve Celebration Bowl rematch: Alcorn State vs. N.C. A&T Braves win SWAC title and and now bring their high-powered offense to bowl game
Well, it’s all set. The matchup for the Dec. 15 Air Force Reserve Celebration Bowl in Atlanta is actually a rematch: ...
Read More
HBO’s ‘Say Her Name’ has few answers about what happened to Sandra Bland But new documentary gives her a voice, even in death
The mother of Sandra Bland, the Illinois woman who committed suicide in a Texas jail after being hauled there for bac...
Read More
Meghan Markle ignores negative news, believes British press out to get her
Meghan Markle has developed a way of dealing with negative press: She doesn’t read it. After a tough week in the medi...
Read More
George H.W. Bush’s Willie Horton ad remains flashpoint in dog-whistle politics
What many political historians will tell you is that Donald Trump‘s brand of politics was not created in a vacuum. An...
Read More

Tags