With the deadline Tuesday, PTL founder Jim Bakker was $1 million short in his bid to buy back the ministry he left in a sex-and-money scandal, but vowed to leave no stone unturned in coming up with the money.
Bakker and his attorney, Jim Toms, said Monday they're certain supporters will donate the money needed to satisfy PTL bankruptcy trustee M.C. "Red" Benton, who wanted $3 million toward Bakker's $165 million bid by the end of the day."To come up with $3 million in a holiday weekend I had to pray and say, `God help me,' " Bakker said.
He said friends and acquaintances contacted by word-of-mouth had contributed close to $2 million in cash and letters of credit toward the $3 million.
Bakker said a group of people was working on raising the remaining $1 million in thousand-dollar pledges, and he has set up a trust account at a Hendersonville, N.C., bank to accept donations. Those donations would be used only if he and his wife, Tammy Faye, succeeded in purchasing the ministry, he said.
After Tuesday, Benton said he would consider other offers to purchase the ministry's assets, including Canadian real estate executive Peter Thomas' standing offer of $113 million.