A former radio host was sentenced to multiple life sentences for a Ponzi scheme, which saw him milk his elderly listeners out of millions of dollars. William Neil Gallagher received a 30-year prison sentence from Judge Elizabeth Beach after pleading guilty in August.
Doc Gallagher preyed on his victims
During a three-hour court hearing, more than a dozen victims testified, saying they lost anywhere from $50,000 to $600,000. They all invested money in the Gallagher Financial Group. Several said they were forced to sell homes, borrow money from their own kids, and even take part-time jobs to support themselves.
Gallagher promoted his business on Christian radio using the tagline “see you in church on Sunday.” He even got his investment business promoted in books and during broadcasts.
Law enforcement has had Gallagher behind bars since March 2019 on charges filed in Dallas County. He eventually pleaded guilty to those charges and received a 25-year sentence. The Tarrant County District Attorney’s office called him one of the worst offenders they have ever seen.
Gallagher was a man of secrets
Those who testified said they now struggle emotionally and no longer trust anyone other than their family. Doc Gallagher has become known as the Bernie Madoff of North Texas. Among the money advice he gave his clients was to hide accounts offshore.
Investigators struggled to find an accounting system in Gallagher’s accounting system in his Hurst office. Employees revealed that no actual accounting system existed. In hopes of keeping his scheme going, Doc Gallagher opened a secret office a few miles away from the Hurst location. When it was discovered, they found a massive 2,400 pound safe. However, the safe was opened to reveal nothing in it. The good news is, Doc Gallagher will never again cause trouble for anyone ever again.