A Christian radio finance show host’s purported mistress was sentenced to life in prison for her part in the theft of tens of millions of dollars from the elderly who were listeners to his broadcast, according to a revelation by prosecutors in Texas.
Nearly $31 million was stolen from around 170 victims, primarily seniors, by Debra Mae Carter (65), who was found guilty of money laundering in connection with a fraudulent scheme. The criminal district attorney for Tarrant County claims that the fraud persisted for more than a decade.
William Neil ‘Doc’ Gallagher, also known as the Money Doctor, was accused of forgery, obtaining the signing of a document by deceit, exploitation of the elderly, and theft. In August of 2021, Gallagher was given three life sentences plus thirty years. The sentences were imposed after he admitted guilt to charges related to a Ponzi scam he operated in Hurst, Texas, which deceived elderly individuals out of millions of dollars.
Their victim’s ages ranged from the 60s to 90s.
The chief of the Tarrant County Criminal District Attorney’s Elder Financial Fraud unit, Lori Varnell, said Gallagher was among the worst offenders she had encountered. He profited from multiple elderly people and stole $32 million from his clients. He ran his scam targeting churches, preying on those who thought he was a Christian. Varnell also said that Carter was a menace to society.
He led Gallagher Financial Group prior to his imprisonment. The group promoted itself on Christian radio using church-friendly slogans. Gallagher advertised his investment company in books, including Jesus Christ’s Money Master.
While searching Carter’s travel trailer, police discovered gold and silver valued at $200,000. Gallagher brought in his victims’ cash, while Debra Mae Carter laundered it via fictitious nonprofits, real estate, and land.
Carter chose to self-represent during her trial. Victims testified about how the scam affected them.
Brenda Wilkerson (84) said she lost her savings and is forced to pay the mortgage on her house until she dies. She said that Carter had upended and wrecked so many lives, and she deserved life in prison.
