Christian Radio ‘Money Doctor’ Doc Gallagher Sentenced To 3 Life Terms For Bilking Seniors In Ponzi Scheme

FORT WORTH, Texas (CBSDFW.COM) –  William Neil “Doc” Gallagher, the self-styled “Money Doctor,” was sentenced to 3 beingness sentences successful situation — positive different 30 years down bars — successful Fort Worth, Texas connected Monday. The sentences were a effect of his blameworthy plea connected August 31, 2021, to charges stemming from a Ponzi strategy helium ran that bilked elder citizens retired of millions of dollars.

Judge Elizabeth Beach sentenced Gallagher to beingness presumption connected 3 charges — securing the execution of a papers by deception for an magnitude greater than $200,000, theft of spot much than $300,000 and misapplication of fiduciary spot oregon spot of fiscal instauration of much than $300,000. He was sentenced to different 10 years each connected 3 charges: One complaint of forgery against the aged and 2 charges of exploitation of the elderly.

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“’Doc’ Gallagher is 1 of the worst offenders I person seen,” said Lori Varnell, main of the Tarrant County Criminal District Attorney’s Elder Financial Fraud team. “He ruthlessly stole from his clients who trusted him for astir a
decade. He amassed $32 cardinal successful nonaccomplishment to each of his clients and exploited galore elder individuals. He worked his mode astir churches preying connected radical who believed helium was a Christian.”

Gallagher, 80, ran the Gallagher Financial Group that advertised connected Christian vigor with the tag line, “See you successful religion connected Sunday.”

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In 2020, helium pleaded blameworthy to akin charges successful Dallas County and was sentenced to 25 years successful prison.

Gallagher promoted his concern concern successful books, specified arsenic “Jesus Christ, Money Master,” and connected Christian vigor broadcasts. He was indicted successful Tarrant County connected these charges successful August 2019. More than a twelve elder victims testified Monday during a 3 hr tribunal proceeding astir losing anyplace from $50,000 to $600,000 that they invested successful the Gallagher Financial Group.

Some person had to merchantability their homes, get wealth from their children oregon instrumentality part-time jobs to supplement their societal information payments. They spoke of losing spot successful radical and of the slump galore present endure due to the fact that of
losing their wealth done Gallagher’s company.

“I’m acrophobic my wealth is going to tally out,” Judy Dewitt, 1 of the victims, said. “It’s a precise scary thing.”

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She and the others who testified Monday asked Judge Beach to springiness “Doc” Gallagher beingness successful prison. “I don’t spot anybody anymore, but for God and my family,” said Susan Pippi, different victim.