3ABN Involved in Land Conflict
27 September 2024 |
An investigative journalism piece in partnership with Spectrum and Miami Herald details the legal and financial conflict between retired U.S. Army Colonel David Lawrence Adderley and Three Angels Broadcasting Network (3ABN). David Adderley, a dual citizen of the United States and The Bahamas, was the recipient of generational property in Long Island, Bahamas, which had been acquired over time by his grandfather to gift the land among his 12 children.
As a lifelong Adventist and dedicated viewer of 3ABN, Adderley thought gifting one or two acres to the organization was not only a form of ministry but a viable tax writeoff with a possible stream of income. What occurred was an irrevocable Charitable Remainder Unitrust, or CRUT, which placed 3ABN as the trustee and stripped Adderley and the rest of his family of all rights and access to the land. The CRUT is designed to offer a stream of income to the donor; however, the land was not generating income. In addition, the land is prime waterfront property, at a value of $23 million to $35 million. Adderley’s relatives believe 3ABN underpaid for the property, only to leave it undeveloped and hidden behind trespass signs and fencing preventing any income.
The original deal began in July of 2011, and seven years later Adderley sought to overturn it, arguing that due to his legal blindness, 3ABN misled him, leading the initial one to two acres to become a whopping 400 acres in the form of civil theft and exploitation of an elderly person. The overall suit was dismissed by a U.S. District judge, with some minor claims against 3ABN still upheld.
There are multiple complexities to the case where both parties must claim negligence. 3ABN did not do their due diligence to communicate the amount of land taken and have not developed the property as expected, which could have generated income for the donor. Adderley, despite encouragement from 3ABN, did not have an attorney for the original exchange, and due to his blindness might not have read through the legal documents. In addition, many of Adderley’s family contest that he had no right to donate the land since one relative still worked and lived on the property. In March 2023, 3ABN filed a petition with the Supreme Court of the Commonwealth of The Bahamas under the Quieting Titles Act of 1959. The petition gave anyone who believed they had a legal right to the property 30 days to file a claim, allowing the relative to lay claim. A hearing is scheduled for October 2024.
Ultimately, the Adderley family is devastated that generational land and wealth has ended with the loss of the property, breaking a long and proud lineage for the family.
