"Jerry Falwell had cleverly seized upon this time, one of the lowest points in our lives, to do his dirty work." Tammy says in her book, "Tammy: Telling it My Way." Jerry Falwell was a preacher known for creating the Moral Majority, a political Christian movement during the Reagan era, and for creating Liberty University, a college based in fundamental Christian principles. When Falwell learned the Hahn story was about to break, he offered to step in and take over PTL. Against Tammy's wishes, Jim agreed and stepped down. According to Tammy, Falwell wanted to destroy PTL because he was trying to help Bush win the White House and was worried PTL would support Pat Robertspm who was considering a run for president.
Falwell spread a rumor that Jim Bakker was gay, and that both the Bakkers had extravagant paychecks and demands, ruining their reputations. Then Falwell began dismantling the company, laying people off and getting rid of property. According to the Belleville News, PTL filed for bankruptcy in 1987, and in 1988, Jim Bakker was "indicted for wire and mail fraud charges as part of an IRS investigation." In 1989, Jim was convicted and sentenced to 45 years in prison. Investigations revealed that Jim had been misappropriating funds raised for Heritage USA to pay large salaries and bonuses in addition to overselling lifetime partnerships to the park, per Religion & Politics.
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