Story at a glance
- Texas radio host William Neil “Doc” Gallagher was given three life sentences for a Ponzi scheme which took millions from elderly listeners.
- More than a dozen victims testified to losing between $50,000 and $600,000 in Gallagher’s scheme.
- “He ruthlessly stole from his clients who trusted him for almost a decade. He amassed $32 million in loss to all of his clients and exploited many elder individuals,” said Lori Varnell, head of the Tarrant County District Attorney’s Elder Financial Fraud team.
Texas radio host William Neil “Doc” Gallagher was given three life sentences for a Ponzi scheme which took millions from elderly listeners.
The 80-year-old promoted his business, Gallagher Financial Group and his books, such as “Jesus Christ, Money Master,” on Christian radio, according to The Associated Press (AP). More than a dozen victims testified to losing between $50,000 and $600,000 in Gallagher’s scheme. Gallagher pleaded guilty to charges in August.
Some of the victims reportedly told the court they had to take on jobs and sell their homes to make ends meet.
“I don’t trust anybody anymore, except for God and my family,” one of the victims said, according to CBS11.
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“Doc Gallagher is one of the worst offenders I have seen,” said Lori Varnell, head of the Tarrant County District Attorney’s Elder Financial Fraud team.
“He ruthlessly stole from his clients who trusted him for almost a decade. He amassed $32 million in loss to all of his clients and exploited many elder individuals. He worked his way around churches preying on people who believed he was a Christian,” Varnell said in a statement.
Gallagher has been in jail since he was arrested on similar charges in 2019, and in 2020 he pleaded guilty and received a 25-year sentence. He was indicted in Tarrant County in 2019.
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