Pastor Kirbyjon Caldwell — who heads Houston megachurch Windsor Village United Methodist — has been indicted for wire fraud and money laundering.

According to ABC 13, Pastor Caldwell and his business partner are being accused of selling nearly $3.5 million worth of Chinese bonds to the congregation. These bonds had some worth back in the 1940’s but are worthless now. According to court documents, Caldwell encouraged his members to “remain faithful and that they would receive their money” but no one was ever paid back. He also allegedly used religious references to “give investors hope they would soon be repaid.”

Court filings suggest the men used the money to pay the mortgage on the pastor’s home in Houston. If found guilty, they are looking at prison time and a massive fine.

Sources say that Caldwell, who was once one of President George W. Bush’s spiritual advisors, is working with authorities. He reportedly plans to surrender to the state of Louisiana in 10 days.

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