APnc 07/11 0416 PTL-Taggart
CHARLOTTE (AP) -- PTL auditors say they have found several
cases in which it appears that former PTL Vice President David
Taggart may have used the TV ministry's money for his own use,
but Taggart says he has receipts for all the money he spent, and
he doesn't trust the current PTL management.
WBTV reported Friday that its own investigators and PTL
auditors are investigating whether Taggart may have used
thousands of dollars in ministry funds for his personal use.
PTL's chief operations officer, Harry Hargrave, told WBTV that
the ministry's auditors were unable to locate records on how the
former close aide to Jim Bakker may have used the money.
"I would hope that his position would be and that he could
defend his position that those expenses were for ministry
business," Hargrave said in a televised interview.
Through a spokesman, Taggart said he didn't leave receipts for
the money he spent at PTL because he didn't trust the current
The television station said it had obtained copies of two
checks drawn on the ministry's account -- one for $45,000 in
March and another for $30,000 made out in April -- that were
co-signed by Taggart. Both were used to pay Taggart's personal
credit card account, the station said.
PTL auditors have discovered no evidence that proves the
$70,000 was used for ministry expenses, Hargrave said.
WBTV said Taggart refused its request for an interview. He
did issue a statement that read in part: "I am not and do not
intend to become a public figure in any sense ... in due course,
all the relevant facts will be disclosed."
Taggart was a PTL vice president until he was fired two months
WBTV said its investigation also turned up evidence that
Taggart may have used a PTL certificate of deposit at a South
Carolina bank as collateral for loans be received from the bank.
"PTL has guaranteed a loan that David had at Rock Hill
National Bank," Hargrave said. "The disposition of that loan, I'd
rather not discuss at this point and time."
Hargrave said the loan was for "approximately $70,000."
The PTL's chief operations officer also confirmed that Taggart
had withdrawn about $640,000 in cash from PTL's accounts over an
18-month period. There were no receipts for the withdrawals, he
As PTL vice president, Taggart reportedly earned $620,000 in
salary and bonuses for the period January 1986 to March 1987.
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