Christian radio host Doc Gallagher gets 3 life prison terms for bilking listeners out of millions of dollars
"He ruthlessly stole from his clients who trusted him for almost a decade," said the chief of the Tarrant County DA's Elder Financial Fraud team.
A Texas radio host was sentenced to three life prison terms Monday for a Ponzi scheme in which he bilked elderly listeners out of millions of dollars. William Neil "Doc" Gallagher also got a 30-year prison sentence.
The sentencing came after more than a dozen senior victims testified during a three-hour court hearing about losing anywhere from $50,000 to $600,000 invested in the Gallagher Financial Group. Some said they had to sell their homes, borrow money from their children or take part-time jobs to supplement their Social Security benefits.
Gallagher, 80, and his Gallagher Financial Group advertised on Christian radio with the tagline, "See you in church on Sunday." He promoted his investment business in books, such as "Jesus Christ, Money Master," and on Christian radio broadcasts.