A former religious adviser to President George W. Bush has been accused by federal prosecutors of defrauding investors of $3.5 million.
Pastor Kirbyjon Caldwell and a business partner, Gregory Smith, sold millions of dollars of worthless Chinese bonds, telling investors to "remain faithful and that they would receive their money," according to documents obtained by ABC Houston station KTRK.
Both men could face significant jail time and be forced to forfeit assets.
Caldwell's lawyer tweeted out a statement, according to KTRK, that said his client was "falsely accused" and "would be absolved.".
JUST IN: “Pastor Kirbyjon Caldwell is a religious leader who has been falsely accused—“ statement from his lawyer.
Full #abc13 coverage: https://t.co/5GMtMAx4E0 pic.twitter.com/BsuePBv8p3 — Miya Shay (@ABC13Miya) March 30, 2018.
Editor’s note: An earlier version of this story misspelled Caldwell’s name. »