Texas Woman Gets Life Sentence for Scamming Elderly Christians Out of Millions

A Texas woman, Debra Mae Carter, 65, was sentenced to life in prison for her role in a Ponzi scheme that defrauded mostly elderly victims of over $31 million. Carter, the mistress of former Christian radio host William Neil "Doc" Gallagher, was found guilty of money laundering in July.

These were hard-earned retirement [dollars] which … got put into her account over and over again. She is a blight on society. — Tarrant County Assistant District Attorney Lori Varnell

'Money Doctor' Defrauded Elderly Investors

Gallagher, self-proclaimed "Money Doctor," was sentenced to three life sentences plus 30 years in 2021 for charges including forgery, theft, and exploitation of the elderly.

The Texas State Securities Board stated that Gallagher, 83, ran the Gallagher Financial Group and defrauded over 170 people from 2013-2019, mostly clients of his investment firm.

Promised Faith-Based Investing

The radio host frequently promoted his business on Christian radio and through books like "Jesus Christ, Money Master." He would also conduct in-person "educational" seminars to gain clients.

Impact on Victims

During sentencing, 84-year-old Brenda Wilkerson, a victim who lost $50,000, shared that Carter showed no remorse for ruining people's lives. Wilkerson, who invested money inherited with her late husband, now faces mortgage payments on her home until she dies.

I wanted her to get a life sentence. She damaged too many people's lives. — Victim Brenda Wilkerson

So far, Wilkerson has only received $4,200 of her original investment.

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 , https://www.facebook.com/share/p/7CLL96EVdQqJFdB2/
• Fox 4 News: https://www.fox4news.com/news/debra-mae-carter-william-doc-gallagher-money-doctor-ponzi-scheme-sentencing