What was Jim Bakker convicted of?

Jim Bakker was convicted in 1989 on multiple counts of fraud and conspiracy related to the operations of his televangelism ministry, PTL (Praise the Lord) Club. He was found guilty of misleading investors about the financial stability of his ministry and misusing funds, which resulted in significant financial losses for his supporters. Bakker was sentenced to 45 years in prison but was released after serving five years. His case highlighted issues of financial accountability within religious organizations.