WORLD : Sale of PTL Land to Cerullo OKd
U.S. Bankruptcy Judge Thurmond Bishop today approved the $52-million sale of fallen television evangelist Jim Bakker’s PTL empire to a faith healer based in San Diego.
Evangelist Morris Cerullo, who occasionally appeared on the old “Jim and Tammy Show,” was not present in U.S. Bankruptcy Court when the deal was approved.
He had already deposited $7 million in an escrow account to secure his purchase of the ministry’s television satellite network. For an additional $45 million, Cerullo will get 2,200 acres of rolling hills, streams and wooded areas that make up Heritage USA, the religious retreat that became a mecca for PTL followers.
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