How Jerry Falwell Jr mixed his personal finances with his university's

[TexasTowelie]

WASHINGTON (Reuters) - After parting ways with President Jerry Falwell Jr in the wake of personal scandals, Liberty University has hired a firm to investigate “all facets” of Falwell’s tenure, including the school’s financial and real estate operations.

There may be much to untangle.

Falwell, who took over as president of Liberty in 2007 after years as a lawyer handling its real estate interests, intertwined his personal finances with those of the evangelical Christian university founded by his father.

He put his two sons - and their wives as well - on the university’s payroll. He arranged the transfer of a multi-acre Liberty facility to his personal trainer. He enlisted a friend’s construction company to manage an ambitious campus expansion costing hundreds of millions of dollars.

And before becoming school president, Falwell set up two companies that enabled him to cut property deals with one of the many nonprofit entities affiliated with the university, Reuters found. In each of the deals, Falwell played multiple roles with potentially conflicting interests: He was an officer of the university, a board member for the nonprofit selling the land, and a private developer who could profit from the transactions.

Read more: https://www.reuters.com/article/us-usa-falwell-legacy-insight/how-jerry-falwell-jr-mixed-his-personal-finances-with-his-universitys-idUSKBN25V27L

[dalton99a]

1. Kick

In 2001, property records show, Falwell set up a private company while he was a lawyer for Liberty, used it to buy an undeveloped tract of land from the school, and then developed a strip mall on the plot. The company sold the property five years later at a significant premium.

In 2005, property records show, Falwell again acted as a private businessman when a university nonprofit affiliate and a company he operated joined together to sell land to a third company - controlled by Falwell’s real estate partner.

And in 2012, in a project Falwell launched as Liberty’s president, the university spent more than $2 million to build a tunnel that links the campus to another shopping plaza near campus. Falwell is a part owner of that shopping plaza.

Liberty employed a private firm - JF Management - formed by Jerry “Trey” Falwell III, Falwell’s elder son, to manage university properties. The company received more than $58,000 in compensation in 2017, according to the school’s most recent public filing of tax form 990 with the U.S. Internal Revenue Service. Trey Falwell also serves as a Liberty vice president, with total compensation from the university of $189,000 a year, according to the tax filings.

Falwell’s other son, Wesley, drew compensation in 2017 from Liberty of $54,744, the filings show. Laura Falwell, Wesley’s wife, earned $57,751 that year from Liberty, and Sarah Falwell, Trey’s wife, earned $63,315.

[Wellstone ruled]

2. How thee fleeces the flock for

his personal gains. So much for the Money Changers in the Temples eh.

[Chainfire]

3. Just another Republican religious leader

Crooked to the core. The parents of the students were just losers and suckers. Can I get a round of "Lock him up!"

[Sherman A1]

4. A Charlatan to the core

hopefully the investigation will lead to criminal charges and a full reimbursement to those he fleeced.

[gopiscrap]

5. typical fundy fuckers

full of moral for everyone else, but none for themselves

[MerryBlooms]

6. Gee, surprise, another family of crooks. Hope they all go to prison.

[NCjack]

7. Surely, Junior has paperwork from Gawd instructing him to take those various roles

to eliminate red tape and accelerate the projects.

[hunter]

8. Snake fight!

Yes, they are all snakes.

And not the nice kind like this:

https://www.theguardian.com/environment/2020/sep/01/snakes-on-a-plate-australian-man-shocked-after-massive-serpents-crash-through-kitchen-ceiling

[Tanuki]

9. Off topic, but I hope you are feeling better!!

[TexasTowelie]

10. I'm doing okay and able to handle all of the basic functions.

I can get up and down the stairs, but I need a second person to take care of the wheelchair.

[tanyev]

11. Ah, 'intertwined'. Is that what they're calling it now?

[TexasTowelie]

12. That's because embezzlement

contains many of the same letters as Beelzebub.