Former financial adviser jailed for 3 life terms over $32m Ponzi scheme

Mark Battersby
clock • 2 min read

A former financial adviser in Texas has been sentenced to three life terms in prison for fleecing investors out of millions of dollars by preying on religious seniors, according to news reports. William Gallagher, known as "Doc," pleaded guilty in August in connection with a $32m Ponzi scheme targeting senior citizens, the Fort Worth Star-Telegram reported, citing the Tarrant County Criminal District Attorney's Office. Gallagher raised the money from about 12 victims who invested in Gallagher Financial Group, which he had advertised on Christian radio with the tag line "See you in chu...

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