Pastor Kirbyjon Caldwell pleads 'not guilty' on fraud charges

Houston megachurch pastor Kirbyjon Caldwell, accused of fraud and money laundering, plead "not guilty" in federal court.

Kirbyjon Caldwell entered the plea during his arraignment hearing in Shreveport. He and a local financial advisor are accused of selling millions of dollars worth of worthless bonds to investors.  Caldwell's lawyer says he is not guilty and they will fight the charges.

Caldwell has been released on $250,000 unsecured bond.  His next court date has not been set.

Criminal defense attorney Carl Moore is on the Factor to talk about this case.