Louisiana financial planner, Houston pastor indicted
SHREVEPORT, La. (AP) - A federal grand jury has charged a Louisiana financial planner and a Texas pastor with bilking investors out of more than $1 million.
U.S. Attorney Alexander C. Van Hook said in a news release Thursday that a 13-count indictment was handed up against 55-year-old Gregory Alan Smith of Shreveport and 64-year-old Kirbyjon Caldwell of Houston. They are 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, according to the Shreveport Times. Additionally, Smith and Caldwell are charged in two separate counts of money laundering.
According to the indictment, Smith used his influence as operator and manager of Smith Financial Group LLC in Shreveport, and Caldwell used his influence as pastor of a prominent Houston church to lure investors to pay more than $1 million for Historical Chinese bonds that are not recognized by China's current government and have no investment value.