A Houston megachurch pastor and a Louisiana financial planner were indicted on Thursday for orchestrating a $3.5million fraud. The duo are said to have cheated 29 investors out of $3.5million between April 2013 and April 2014. Caldwell used his money to pay the mortgage on his Houston home, which according to public records is worth more than $2.5million (if found guilty, he may have to forfeit the home). Prosecutors say he used his influence to convince vulnerable and elderly people to invest in worthless Republic of China bondsProsecutors say Caldwell used the money to pay the mortgage on his House home. According to the filings, Caldwell 'used religious references to give investors hope they would soon be repaid' telling them to 'remain faithful'.

Source: Daily Mail March 30, 2018 20:44 UTC