A Texas pastor who served as a religious adviser to President George W. Bush is one of two men accused of bilking investors out of more than $1 million.
The Rev. Kirbyjon Caldwell and financial planner Gregory Alan Smith both used their influence to persuade people to put their money in Historical Chinese bonds, according to authorities. The bonds “are not recognized by China’s current government and have no investment value,” the Department of Justice said Thursday in a press release.
Investigators say the bonds were issued by the former Republic of China prior to losing power to the communist government in 1949.
Caldwell, 64, and the 55-year-old Smith were charged with one count of conspiracy to commit wire fraud, six counts of wire fraud, one count of conspiracy to commit money laundering and three counts of money laundering.
“He is absolutely 100% not guilty,” Caldwell lawyer Dan Cogdell said Friday, according to KHOU. “Every single person that has asked for their money back has gotten their money back.”
Caldwell said during the press conference he believed the bonds were legitimate when they were sold.
“All along the process, I had legal counsel,” he said, according to KHOU. “At no point was I doing this just willy-nilly. Everything that was done was done in accordance with that counsel. Unfortunately we are where we are today.”
According to court filings obtained by ABC 13, Caldwell asked investors to “remain faithful and that they would receive their money,” and “used religious references to give investors hope they would soon be repaid.”
He serves as the senior pastor of the Windsor Village United Methodist Church in Houston. His most recent Facebook post on Wednesday alluded to the upcoming Bible Study.
“Tonight, we will look at how purposeful obedience and suffering produces Godly authority,” he wrote. “Don’t let the concept of suffering scare you; come out and find out how to live life as a victor instead of a victim!”
Once a close counsel to President Bush, the pastor is also a limited partner with the Houston Texans NFL team, according to the station. Caldwell presided over the wedding of Bush’s daughter Jenna to Henry Hager in 2011.