D-FW Christian TV network reportedly returned $3.9 million PPP loan after investigation into jet purchase - The Dallas Morning News

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Dallas televangelist Marcus Lamb and his Daystar Television Network reportedly returned its $3.9 million Paycheck Protection Program loan after an investigation raised questions about the network’s purchase of a private jet.

Televangelist Marcus Lamb is president and CEO of Daystar – one of the world’s largest religious TV networks.

CBS’ Inside Edition found that the tax-exempt religious network bought a “multimillion-dollar” private jet just two weeks after receiving a federal PPP loan intended to support employees through the pandemic.

Daystar said the jet, a 1997 Gulfstream V, was bought at less than half its market value and used for ministry work, according to Inside Edition. Daystar also told Inside Edition that PPP money wasn’t used for the purchase. Gulfstream V jets from 1997 and similar years sell for $8 million to $10 million on popular private jet marketplaces and can comfortably seat 14 passengers.

Inside Edition found that the Daystar-purchased jet had been used for beach and golf trips for Lamb and his family. At least one trip was described in social media posts as a family vacation, which Lamb claimed was a “working vacation.”

Daystar wasn’t immediately available Wednesday for comment.

Inside Edition said it learned that Daystar returned the PPP loan through a company attorney. When asked about the loan, the U.S. Small Business Administration which oversees the PPP program told The Dallas Morning News the agency “does not comment on individual borrowers.”

Headquartered in Bedford, Daystar Television has been in operation for more than three decades and has a loyal evangelical Christian following. Daystar describes itself as one of the two largest Christian TV networks in the world with 70 stations that reach a potential audience of 100 million U.S. households.

According to news reports from 2010, Daystar has been valued at $230 million and employed hundreds. The network has given a platform to well-known televangelists, including Joel Osteen and Bishop T.D. Jakes, in the past.

The Lamb family, including Marcus’ wife Joni, have used their platforms in previous months to advertise prayer events in conjunction with the Trump family as well as to promote anti-vaccination organizations. In November, Daystar encouraged its members to sign a petition urging the Supreme Court to either recount or overturn the presidential election results and institute a revote.

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December 17, 2020 at 05:07AM
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D-FW Christian TV network reportedly returned $3.9 million PPP loan after investigation into jet purchase - The Dallas Morning News
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