Harold Camping May Be Facing Doomsday, But Not the One He Intended

Two years ago, radio evangelist Harold Camping was predicting the end of the world. Now, longtime aides say his false predictions are likely to result in the end of his California-based Family Radio ministry.

The Contra Costa Times reported that the ministry has sold its prominent stations and laid off veteran staffers, with net assets dropping from $135 million in 2007 to $29.2 million in 2011, according to tax records.

The newspaper said Family Radio has sold its three largest radio stations, and saw its cash on hand drop from $1.5 million to $282,880 in 2011. Since the incorrect prediction, donations have dropped 70 percent, ministry insiders told the newspaper. Records indicate the network took out a loan to keep going.