Christian radio host sentenced to three life sentences for Ponzi scheme bilking millions from elderl

[Jilly_in_VA]

Christian radio host sentenced to three life sentences for Ponzi scheme bilking millions from elderly listeners

A Texas radio host was sentenced to three life prison sentences 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 from state District Judge Elizabeth Beach for his August guilty pleas. The sentences are to be served concurrently.

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.

“Doc Gallagher is one of the worst offenders I have seen,” said Lori Varnell, chief of the Tarrant County District Attorney’s Elder Financial Fraud team.

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.

https://www.nbcnews.com/news/us-news/christian-radio-host-sentenced-three-life-sentences-ponzi-scheme-bilki-rcna4335
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Matthew 7:…19 Every tree that does not bear good fruit is cut down and thrown into the fire. 20 So then, by their fruit you will recognize them