A Christian radio personality and financial advisor from Texas was given three life sentences with an additional 30 years on Monday for defrauding millions of dollars from his listeners.
According to The Christian Post, William Neil "Doc" Gallagher, 80, pleaded guilty on Aug. 31 for bilking at least $23 million from more than 190 people, of which the majority were elderly Christians.
In a press release on Monday, Lori Varnell, chief of the Tarrant County Criminal District Attorney's Elder Financial Fraud team, described Gallagher as "one of the worst offenders I have seen."
"He ruthlessly stole from his clients who trusted him for almost a decade," she continued. "He amassed $32 million in loss to all of his clients and exploited many elderly individuals. He worked his way around churches preying on people who believed he was a Christian."
Gallagher, also known as the "Money Doctor," served as President and CEO of the Gallagher Financial Group. According to the company website, Gallager has over 20 years of experience helping people "take responsibility towards their financial future" as they work towards retirement.
Gallagher, who holds a Ph.D. from Brown University, is also a financial journalist and a former instructor at Texas Christian University. His book, Jesus Christ, Money Master, has only one-star reviews on Amazon, with many reviewers criticizing him for stealing money from the vulnerable.
On Monday, more than a dozen senior victims testified before a court hearing revealing that they lost between $50,000 and $600,000 after investing in Gallager's company.
According to the Tarrant County Criminal District Attorney's Office, "Some have had to sell their homes, borrow money from their children or take part-time jobs to supplement their social security payments. They spoke of losing trust in people and of the depression many now suffer because of losing their money through Gallagher's company."
Judy Dewitt, one of the victims, said: "I'm afraid my money is going to run out. It's a very scary thing."
"I don't trust anybody anymore, except for God and my family," another victim, Susan Pippi, said.
In 2020, Gallagher pled guilty to similar charges and was sentenced to 25 years in prison.
According to a litigation release by the U.S. Securities and Exchange Commission, Gallagher raised at least $19.6 million from approximately 60 senior citizens between December 2014 and January 2019 while falsely portraying himself as a licensed investment adviser.
Photo courtesy: ©Getty Images/Caspar Benson
Milton Quintanilla is a freelance writer and content creator. He is a contributing writer for CrosswalkHeadlines and the host of the For Your Soul Podcast, a podcast devoted to sound doctrine and biblical truth. He holds a Masters of Divinity from Alliance Theological Seminary.
