APnc 07/11 0416 PTL-Taggart CHARLOTTE (AP) -- PTL auditors say they have found several

Master Index Current Directory Index Go to SkepticTank Go to Human Rights activist Keith Henson Go to Scientology cult

Skeptic Tank!

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 management. 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 ago. 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 The PTL's chief operations officer also confirmed that Taggart had withdrawn about $640,000 in cash from PTL's accounts over an 18-month period.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 said. As PTL vice president, Taggart reportedly earned $620,000 in salary and bonuses for the period January 1986 to March 1987. Last page !


E-Mail Fredric L. Rice / The Skeptic Tank