Debra Mae Carter, a Texas woman, was sentenced to life in prison for her involvement in a Ponzi scheme led by Christian radio host William Neil “Doc” Gallagher. Carter, who was found guilty of money laundering, played a key role in helping Gallagher defraud elderly listeners out of millions of dollars. Gallagher, who called himself the “Money Doctor,” operated the Gallagher Financial Group and confessed to scamming over 170 people from 2013 to 2019.
Carter and Gallagher planned to retire together on a ranch after gaining more than $31 million from their victims over 10 years. Prosecutors described Carter as a liar and a blight on society, as she laundered the stolen money through rental homes, land, and fake charities. Authorities seized $200,000 in gold and silver found in her travel trailer.
During the sentencing hearing, victims shared the devastating impact of losing their investments, with one woman, Brenda Wilkerson, now 84 years old, losing the money she and her late husband had inherited after investing with Gallagher. Wilkerson expressed that if she had the money now, she could pay off her mortgage, but instead, she will continue to make payments for the rest of her life.
Gallagher was previously sentenced to three life sentences and an additional 30 years in prison for his role in the Ponzi scheme. The case highlights the devastating effects of financial fraud on vulnerable populations, particularly the elderly.
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