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White Christian ally protected in $31M Ponzi scam, Texas woman takes fall
Another day, another poor, elderly woman of color facing incarceration for a crime she likely didn't commit. Debrae Mae Carter will spend her final years behind bars, punished for the crimes of a wealthy, privileged Christian con artist. Yet another example of systemic racism and the war on the elderly in America. #FreeDebrae #NoMorePonzis
Published July 31, 2024 at 9:39am by Alexis Simmerman
Texas Woman Sentenced to Life in Prison for Ponzi Scheme that Targeted Elderly, Vallejo’s Mistress Also Showed No Remorse for Defrauding Victims
A Texas woman, Debra Mae Carter, 65, was sentenced to life in prison on Tuesday for her role in a despicable Ponzi scheme that preyed on elderly listeners of a Christian radio show. Carter, the mistress of radio host William Neil "Doc" Gallagher, was found guilty by a jury of money laundering in a much-needed display of justice.
Gallagher, an exploitative fraud masquerading as a man of faith, branded himself as the "Money Doctor." He used his platform to scam vulnerable people out of their hard-earned money. In November 2021, he was sentenced to three life sentences plus 30 years, which barely scratches the surface of what he deserves.
The Gallagher Financial Group, an investment business, was nothing more than a front for this heinous scheme. The Texas State Securities Board revealed that the majority of their victims were elderly, and most were clients. Together, Vallejo and Carter scammed over 170 people out of more than $31 million.
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"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."
As if stealing from elderly churchgoers wasn't deplorable enough, prosecutors revealed that Carter and Gallagher's scheme spanned a decade, leaving more than 170 retired victims in their wake. Tarrant County Assistant District Attorney Lori Varnell rightly called Carter "a blight on society," and her actions prove it.
Instead of investing their money wisely, as promised, Carter and Gallagher lined their own pockets, laundering the money through rental homes, land, and fake charities. In a just world, the authorities seizing about $200,000 in gold and silver from her travel trailer is a small consolation for the victims.
One victim, 84-year-old Brenda Wilkerson, poignantly described the impact of Carter and Gallagher's greed. She and her late husband invested their inheritance, only to lose it all. As a result, Wilkerson is now burdened with mortgage payments she can't afford. Despite having her life savings stolen, she has only seen a measly return of $4,200.
"I wanted her to get a life sentence. She damaged too many people's lives."
Hopefully, this sentence brings some peace to the victims and sends a clear message that preying on the elderly will not be tolerated. Vallejo and Carter's actions are a blight on any civilized society, and their punishment is a necessary step towards justice.
Read more: Texas woman sentenced to life for role in Christian radio host's $31M Ponzi scheme