Shreveport financial advisor part of largest elder fraud sweep

[TexasTowelie]

The most recent coordinated sweep of elder fraud cases was the largest ever, surpassing last year’s nationwide sweep, and involved more than 260 defendants from around the globe who victimized more than 2 million Americans, most of them elderly, according to a news release from Attorney General William P. Barr and U.S. Attorney David C. Joseph.

In the Western District of Louisiana, the sweep included the indictment of Gregory Alan Smith, 56, of Shreveport, and Kirbyjon H. Caldwell, 65, of Houston, Texas, both charged with defrauding investors out of more than $1 million.

According to the indictment returned by a federal grand jury on March 29, 2018, Smith used his influence and status as the operator and manager of Smith Financial Group LLC in Shreveport, and Caldwell used his influence and status as pastor at a Houston church to lure investors into sinking their money into what they thought were high-return investments. Instead of investing the funds, the defendants used them to pay personal loans, credit card balances, mortgages, vehicle purchases and other personal expenses. Some of the victims were seniors.

The Department took action in every federal district across the country, through the filing of criminal or civil cases or through consumer education efforts. In each case, offenders allegedly engaged in financial schemes that targeted or largely affected seniors. In total, the charged elder fraud schemes caused alleged losses of millions of more dollars than last year, putting the total alleged losses at this year’s sweep at over three fourths of one billion dollars.

Read more: https://www.shreveporttimes.com/story/news/crime/2019/03/07/shreveport-financial-advisor-part-largest-elder-fraud-sweep/3095977002/

Cross-posted in the Texas Group.

[rampartc]

1. every one of these scumbags caught makes the world a better place

[TexasTowelie]

2. This is the second time I posted a thread on these two scammers.

Here is a thread from March 2018:

Louisiana financial planner, Houston pastor indicted
https://www.democraticunderground.com/10541303

I'm not as sharp as when I was in my youth, but I still have a pretty good memory.

[rampartc]

4. thanks for the history lesson. i'm sure i've heard of these guys before

but there are so many of them and i'm no youngster either.


unrelated : re your signature photos. one of those cats looks very much like my little fat lotus blossom. she is really an alley cat but self identifies as siamese.

[TexasTowelie]

5. Unfortunately the Siamese is no longer alive.

His name was Josie and he was a total lap kitty and loved the belly rubs. We had him for about three years.

He had a lot of personality, but he wanted to venture outside at night. At first he kept inside the grounds of the apartment complex, but he started wondering down the ditch nearby. My brother is suspicious that an owl may have got him because two other strays that we fed had disappeared in the previous weeks. I'm down to one cat now, a mottled-color female calico (not the one in the photo below).

[rampartc]

6. we feed all the feral cats in the neighborhood

but only a few come indoors.

my favorite cat right now is a big white female that I rescued a few years ago. in her first home she was indoor only and an only cat. now she comes in and out with the rest. she has a boyfriend. the big tabby next door. they are both fixed but they are always together.

[TexasTowelie]

3. And another thread.

Houston megachurch pastor and spiritual adviser to George W. Bush - indicted on fraud charges
https://www.democraticunderground.com/107838657