PTL Trustee ‘Skeptical’ Whether Bakker Can Get Cash From Greeks

The bankruptcy trustee for the PTL religious complex said Friday that he is “very, very skeptical” about whether founder Jim Bakker will come up with the cash to back up his $165-million offer for the ministry.

M. C. (Red) Benton said in a telephone interview from his Winston-Salem, N.C., home that he thinks the former television evangelist does have a financial commitment from 28 Greek businessmen who are supposed to be backing the deal. Bakker has not identified those businessmen even to Benton.

But Benton said Bakker seems to be having some trouble getting the cash into the United States. Benton had said Thursday that he expected Bakker to sign a contract to buy PTL on Friday. But the money was not available and legal details were not yet worked out, so Benton extended the deadline until Tuesday morning.

Bakker founded the television ministry and theme park but resigned in March, 1987, after admitting to extramarital sex.

Bakker lawyer Ryan Hovis of Rock Hill, who met with PTL bankruptcy lawyers Friday at PTL’s Heritage USA park, said there were no “serious snags” in the negotiations.