Texas Woman Sentenced to Life in Prison for Christian Radio Ponzi Scheme

A Texas woman, Debra Mae Carter, 65, was sentenced to life in prison for her role in a Ponzi scheme that defrauded elderly listeners of a Christian radio host out of millions. Carter, the mistress of former Texas radio host William Neil "Doc" Gallagher, was found guilty by a jury of money laundering in July.

"Carter's role was to make sure [the money] was not recovered by the victims. The two ultimately planned to retire to a huge ranch together," said the Tarrant County Criminal District Attorney’s Office.

The "Money Doctor" Scam:

• Gallagher, self-proclaimed "Money Doctor," ran Gallagher Financial Group.
• His victims: mostly elderly, defrauded from 2013-2019.
• Over 170 people scammed, losing a combined $31 million.
• Gallagher promoted his business on Christian radio and in books like "Jesus Christ, Money Master."

Impact on Victims:

• Carter and Gallagher's scheme left "over 170 mostly retired victims," losing their "hard-earned retirement dollars."
• One victim, 84-year-old Brenda Wilkerson, lost $50,000 she and her late husband invested.
• Wilkerson said Carter showed no remorse, and she will be making mortgage payments until she dies.

Justice Served:

• Gallagher was sentenced to three life sentences and an additional 30 years in prison in 2021.
• Authorities seized $200,000 in gold and silver from Carter's travel trailer.
• Carter is now facing life in prison for her role in the scam.

Sources:

• Tarrant County Criminal District Attorney's Office: https://www.tarrantcountytx.gov/en/criminal-district-attorney/this-week-s-trials.html?linklocation=Departments&linkname=This%20Weeks%20Trials
• Fox 4 News: https://www.fox4news.com/news/debra-mae-carter-william-doc-gallagher-money-doctor-ponzi-scheme-sentencing