Bakker Offers No Proof He Can Buy PTL

The PTL bankruptcy trustee said Jim Bakker offered no proof Thursday that he has the money to back his $172-million offer to buy the ministry’s assets.

M. C. (Red) Benton said he was meeting with other potential buyers.

Benton also asked U.S. Bankruptcy Judge Rufus Reynolds to extend from Saturday until Monday the deadline to present a buyer, since Saturday is a weekend day. He said he expects to get the extension.

“We had no further proof,” that Bakker has the funds, Benton said after meeting with Bakker and his lawyers at PTL’s executive offices. “They did not show us anything (any documents) today.”

He said he would withhold judgment on whether he thinks Bakker had the money, and will give him until this afternoon to come up with $3 million to secure his offer and to show proof that the funds exist for the overall loan.

Benton, the former mayor of Winston-Salem, N.C., said he would accept other offers until that time. The trustee said he will have something to report to the judge Monday even if it was only an outline of bids that have been made.

‘It’s Still Coming In’

Bakker said he has more than $2 million of the $3 million, and “It’s still coming in.” He has been asking supporters for donations.

Bakker also said he will have proof by today that the rest of the money exists.

“It’s time to fish or cut bait,” he said after meeting with Benton. Benton met Thursday with investors he would describe only as Canadian. He said it was not Canadian real estate executive Peter Thomas, who had offered $113 million for the ministry.

Thomas on Wednesday withdrew his offer, but said he might reinstate it at a later date. “I’m just tired of playing around,” Thomas said. “I’m tired of having my offer sitting there as a target for other people to shoot at.”

Spending, Sex Scandal

Bakker left PTL in March, 1987, amid revelations of extravagant spending and a sexual encounter with church secretary Jessica Hahn. The ministry filed for bankruptcy reorganization that June.

Bakker said he still is dealing with the investors he had previously identified as 28 Greek businessman. But he said the investors are not necessarily from Greece.

“Somebody invented this Greek tycoon--one of our beloved media people--and I went along with it because they wanted it so badly,” Bakker said.

He would only identify the investors as Europeans. “I have agreed never to reveal the source of the funds,” Bakker said.