Jim Bakker won't have to pay $120 million to former followers who bought "partnerships" in his PTL tele-ministry. A jury in North Carolina today threw out a class action suit brought on behalf of more than 160,000 onetime believers who paid as much as $7,000 each in the '80s to join Jim and Tammy Faye in holy larceny.

Bakker has already served five years in prison for defrauding PTL members. But this case turned on the legal point of whether the partnerships were investments or not. The plaintiffs argued yes, because time-share apartment units were promised at Heritage USA, a resort planned for South Carolina, as part of the deal. Bakker's attorneys argued no, because the sales pitch made it clear that the partnerships couldn't be transferred and so weren't really investment vehicles.

  • Share
  • Tweet
  • Share

We and our partners use cookies on this site to improve our service, perform analytics, personalize advertising, measure advertising performance, and remember website preferences. By using the site, you consent to these cookies. For more information on cookies including how to manage your consent visit our Cookie Policy.