Former spiritual advisor for U.S. presidents George W. Bush and Barack Obama, pastor Kirbyjon H. Caldwell who runs the Texas megachurch has been sentenced to six years in prison for defrauding investors of millions of dollars.
Caldwell who has a very large following and runs a very successful ministry was sentenced to six years in federal prison on Jan 13 by US District Judge S. Maurice Hicks for his role in the multi-million dollar scheme that duped several victims who had invested in nearly $3.5 million in Chinese bonds.
Alexander C. Van Hook, the acting United States attorney for the Western District of Louisiana, said in a statement, “The defendants, in this case, abused the trust that the victims had placed in them,”.
Mr Caldwell, Mr Van Hook added, “used his status as the pastor of a megachurch to help convince the many victim investors that they were making a legitimate investment but instead he took their hard-earned money from them and used it for his own personal gain.”
Caldwell was formerly associated as the Senior Pastor of Windsor Village United Methodist Church, a mega-church in his native Houston, Texas, which has around 14,000 members,
According to federal prosecutors, Caldwell used his clout as a pastor along with his partner Gregory Alam Smith and leveraged it to persuade people to invest about $3.5 million in historical Chinese bonds.
However, the bonds were reportedly issued by the former Republic of China under Chiang Kai Shek that lost power to the communist government in 1949 headed by Mao Zedong and the bonds aren’t recognized by China’s current government hence it has no investment value.
According to the U.S. Securities and Exchange Commission, these bonds are collectables with no value outside the memorabilia market, prosecutors said.
Between 2013 and 2014, they both made $3.5 million from the scheme and the profits were divided between Caldwell, Smith, and others.
Caldwell used about $900,000 that he had received from the scheme to maintain his rich lifestyle and pay down credit card bills and mortgages, according to the Justice Department. However, investors were never told of the true nature of the bonds
Caldwell in 2008 had endorsed Barack Obama’s presidential run and was part of a group of Christian pastors who would pray with him. Under Obama administration, Cladwell who is 67 years old got a spot in the healthy fatherhood and family task force set up by Obama.
Caldwell was considered by many in Washington to be highly influential as he was one of the key leaders of a predominantly African-American congregation.
Which is why he got an opportunity to speak at the 2000 Republican National Convention and, delivered the benediction at Bush’s 2005 inauguration. Also, in a rare opportunity, officiated Bush’ daughter Jenna’s wedding in 2008.
In the last few years, many influential evangelical pastors have come under federal scrutiny for alleged fraud. Pastors like Kenneth Copeland who justified is jet-setting lifestyle which he attributed to spreading the word of god and his son Jesus Christ. According to Copeland, the private jet allows him to travel all over the country faster.
Jesse Duplantis who is also a high-flying pastor had once said that “God told him he needs a private jet – specifically, a Falcon 7X, capable of carrying 12 to 16 passengers at speeds up to 700 mph and I really believe that preachers ought to … have every available outlet to get this Gospel preached to the world.”
Most of the time these Christian preachers would make outlandish statements like the one made by Gloria Copeland, wife of Kenneth Copeland who said, “Children do not need a flu shot because Jesus had already “bore our sickness.”We don’t have a flu season,” she said. “And don’t receive it when somebody’s threatening you with ‘Everybody’s getting the flu.’ We’ve already had our shot. He bore our sicknesses and carried our diseases.”
Fact is that whenever these evangelical preachers splurged cash to buy expensive jewellery, sports car or a private jet, they attribute it as the will of God.