Defense attorney says pastor did not conspire to commit a crime

Even as the target of a federal indictment, Windsor Village United Methodist Church Pastor Kirbyjon Caldwell remains confident and charismatic.

"These bonds are legitimate," insists Pastor Caldwell. "The process is legitimate."

That is not the case according to the federal indictment which names Caldwell and a financial planner based in Shreveport, Louisiana. The indictment says they knowingly sold several million dollars worth of worthless bonds issued by the government of the Republic of China, which no longer exists. They promised a 300-to-1,500 percent return on those investment.

Caldwell's attorney Dan Cogdell says the pastor did nothing wrong.

"At no time. at no time did he conspire to commit a crime with anyone," says Cogdell. "At no time did he make a false statement or knowingly make a false statement, at no time." He also says Caldwell invested a lot of his own money in the bonds and when any investors asked for their money back, they got it.

Caldwell admits that five years in, there are still no profits. He has been a powerful figure not just in the Houston area, but nationally. He was a spiritual advisor to both President George W. Bush and President Barack Obama. 

Will this have any impact on his church? Members of his congregation say no.

"One thing he always said is we won't mess with your honey or your money," says Robert Vanderbilt.

"You want to crucify him and if you did, he is rising on the third day," says Dorothy Clark. "Resurrection Sunday and he will rise."