Jim Bakker and Tammy Faye Scam
by The televangelist Jim Bakker, born James O. Bakker, met Tammy Faye LaValley in 1960, while he was enrolled in North Central Bible College, and they were married in 1961. Both came from humble beginnings, which PTL Ministry staff members would later cite as an excuse for the Bakkers’ excesses and inappropriate expenditures. In their ministry, the Bakkers developed a strong belief in “prosperity theology,” in which the basic premise is that God gives to those who give to Him. This belief became a common theme in the Bakkers’ ministry and in their personal lives.
The various lifetime partner lodging appeals raised in excess of $158 million for PTL. The majority of the partners never received the benefits they paid for, because funds were fraudulently misappropriated by Bakker and key PTL employees. The majority of the buildings for which Bakker asked for donations were never built. Eventually, the fraudulent schemes and exorbitant personal spending caught up with Bakker and PTL. Bakker was forced to announce his resignation from PTL in March 1987, and the Rev. Jerry Falwell was elected chair of the board. During this meeting, the entire PTL board resigned. PTL was forced to declare bankruptcy in June 1987. Jim Bakker was indicted on eight counts of mail fraud, fifteen counts of wire fraud (three counts from telephone use and twelve counts from use of television), and an additional count of conspiracy to commit wire and mail fraud, for a total of twenty-four counts. Tammy Faye Bakker was never charged with criminal conduct. Bakker’s criminal trial was one of four judicial proceedings concerning the PTL ministry. The Bakkers were ordered to reimburse PTL $5,603,639.47 for excessive compensation by a U.S. Bankruptcy Court. A second case concerned charges of criminal tax evasion by two PTL employees, James and David Taggert. Finally, a civil case was brought against PTL auditors, officers of the corporation, and a director.
Eventually, Bakker was convicted of all counts.
The lifetime partners filed a class-action lawsuit that sought $758 million in damages from Bakker and other key PTL personnel. The partners were awarded $129,618,000 in actual damages and $129,618 in punitive damages. Because Bakker received a 45-year prison sentence, later reduced to eight years, the partners are unlikely ever to recover their judgment. Eventually Heritage USA was sold for $45 million in December 1990 to Morris Cerullo. Cerullo later surrendered ownership of Heritage USA to the New Heritage USA shareholders in an undisclosed agreement. New Heritage USA properties opened in June 1992 as a for-profit corporation.
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Post CommentAndrew Carlisle
On April 27, 2009 at 1:09 am
This is a twisted version of what really happened?? Jims prison sentence wasn’t merely reduced, he won an appeal based on the biased and unfair trial he received! Read Tammy’s book and “miscarriage of justice” for some truth!! this is a bunch of BS!
CC
On October 1, 2009 at 4:18 pm
This account is biased and does not present a balanced report on what happened. This, is not to minimalize the mistakes and poor judgement the Bakkers made during that time.
Additionally, it glosses over the contributions and trailblazing the Bakkers made at CBN and TBN and the role the late Rev. Jerry Falwell played in the demise of the PTL properties and satellite, instead of facilitating restoration of the ministry.
I watched the show everyday and saw what happened during that time. PTL helped many and that is not being said.
There are many more articles and books about what happened; some for and some against the Bakkers. Keep reading, but do so with a forgiving heart.
Susan
On October 17, 2009 at 5:36 pm
God moves around even bad people. He uses unperfect frauds to help save. Jim is at it again spending donated money on himself personally and on his family, He can buy new furniture,New clothes a Face lift, Crownes for his teeth,personal and he shouldnt be able to use DONATED money .he gets a paycheck but he spends the ministrys money on personal items.Just as much money goes in his pocket as he spends on building the ministry and I hope the IRS catches him for using the non for profit to eat out, get pedicures for 10 people at a time.. Taking 20 people out to eat on the MINISTRY money. He is using the MINISTRYS money that was donated from little old women to spend $1000 at Mr Gilbertis. People are blind, but the IRS is going to catch up and when they start auditing him, he will be in trouble
Chris
On November 3, 2009 at 12:58 am
Well, long story short…. keep believing in mythology and dead jewish carpenters floating around the Earth\’s atmosphere and this is exactly what you get. Regardless of what was left out of this story, it all ends the same way, the leaders at the top end up with all the money and the followers lose in the end but will always \’feel\’ as if they\’ve got something valuable (they call that Snake Oil, my friends). In this case, just about everyone lost out. Nobody seems to learn and history always repeats itself. I\’m glad I\’m not the fool wasting funds this way! I didn\’t see this \’god\’ stepping to make things right when he was most needed, so odd, but even more sad.