Televangelist couple at center of debt controversy

WFAA ^ | may 3 2006 | Brett Shipp

[The Lumster]

Two of the most prominent faces in American televangelism, Kenneth and Gloria Copeland of Fort Worth, preach the gospel of financial prosperity.

But News Eight learned some former business associates are wondering why that gospel didn't apply to everyone in the flock.

The people who ran Affordable Homes Limited said it was just about to take off when the Copelands suddenly backed out and left tens of thousands of dollars of debt.

While limited partners like the Copelands have no financial obligation to pay the company's debts, the question being asked by creditors is how do the Copelands later pay $20 million in cash for a jet?

[The Lumster]

He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want. Prov 22:16

[Oztrich Boy]

How come you never hear of televolutionists doing stuff like this?

[The Red Zone]

Code of honor, monkeys don't fleece monkeys

[js1138]

They must secretly believe in evolution, and it corrupted them. Ideas do have consequences.

[trashcanbred]

Well there aren't any televolutionists are there? HoweverI wonder if one could make as much money?

[freedomson]

What's the currency, Kenneth?

[mnehring]

Church Inc.
We put the money in moneychangers.

Bastardizing Christianity since 1920.

[freedomson]

[mnehring]

Wow, he has a website dedicated to his new $20 million toy.

http://www.elitecxteam.org/

[BikerGold]

While limited partners like the Copelands have no financial obligation to pay the company's debts, the question being asked by creditors is how do the Copelands later pay $20 million in cash for a jet?

WHAT A SLANTED, BIAS, LEFTIST BUNCH OF HOOEY!!

The Copeland's, or the ministry, is out ONE AND ONE-HALF MILLION DOLLARS. Using an airplane is immaterial. Sheesh!

[Dallas59]

Apparently, they're good at asking for money, but making it? There is more to the story I bet.

[VRWCmember]

Saw that report. As much as I despise the Copelands for their heretical teachings, they had no obligation to pour more money into this venture that was apparently a money losing proposition.

I feel sorry for the creditors that this company stiffed and for the employees and managers who are out of a job, but that is a problem with the company, not with the limited partners who had invested a large sum of money to start the company up.

As for where they got the cash to buy a $20 million Cessna, it apparently came from contributions to their "ministry" which is completely unrelated to their investment in this failed company.

[mnehring]

Ouch.. doing a little googling to find out who this guy is and most of the links are to apologetics type sites skewering him.

http://www.apologeticsindex.org/c53.html

[I'm ALL Right!]

You are totally right. Also, if they weren't "The Copelands" this would not be an issue.

[Terabitten]

WHAT A SLANTED, BIAS, LEFTIST BUNCH OF HOOEY!! The Copeland's, or the ministry, is out ONE AND ONE-HALF MILLION DOLLARS. Using an airplane is immaterial. Sheesh!

Did you read the article? Copeland goes in as a 49% "limited" partner in a company. He puts 1.5 million into the company, and then, just as the company is getting ready to take off, he pulls out, leaving $40k in unpaid debts. There's no indication that Copeland was forced to pull out - he did so voluntarily, thus giving up the $1.5 million.

Sounds to me like he was looking to use the business as a tax shelter and then pulled out when it looked like he would have to report income.

It may be legal, but it's morally reprehensible for a minister of the Gospel not to pay his debts. Forty grand is chump change when you just spent twenty million.

[Skooz]

Exactly.

Well stated by both of you.

[MineralMan]

I don't know, but that guy's smile looks a lot like Smilin' Bob's. Wifey looks pretty happy, too.

[Sam's Army]

I seem to remember Madelyn Murray O'Hair abscounding with a bunch of donations for her atheistic organization and subsequently getting snuffed out.

But maybe she only stole it cuz she was a closet Christian...we all know atheists never do anything bad.

[LS]

First of all, this is a REPORTER. Get it? They HATE Christians. You are being played.

You have no idea what the full story is.

Second, the Bible is CLEAR that you must have two or three (credible) witnesses, and so far, we don't know that any of these people are credible.

Third, a limited partner may withdraw from something at any time. That's why it isn't a corporation. How do you know what the OTHER limited partners were told by the Copelands? Maybe all along they were being told to "go slow," or "something isn't right about this."

Fourth, I know for a fact that the airplane was a special offering that was paid for a year or so ago. So what if I have a big house---how does that affect whether or not I stay in a bad investment.

I'm warning you people, know what you're talking about before you cast stones. Both Jesus and Paul warned about this kind of jumping to conclusions.

When Peter looked at John and said, "Hey, what about THIS GUY?" Jesus said, in essence, "Mind your own business. You do what I have called YOU to do, and let Me worry about him." Unless I know EVERY DETAIL of this business transaction, it is none of my affair.

[VOA]

Well there aren't any televolutionists are there?

David Suzuki?
David Attenbourough (sp?)
The late Carl Sagan?

And to be honest, these fellows do (and did in Sagan's case) work as
academics, being compensated for their research and explaining their
work and viewpoint to the masses.
And weren't shamelessly soliciting donations from pensioners.

That does put these televangelist wolves to even more shame.
IMHO, they belong with the "millstone about the neck and cast into
the sea" crowd.