A Dallas radio personality known as the “Money Doctor” took about $19.6 million from elderly, religious investors through an affinity-based Ponzi scheme, the SEC said March 12.
William Neil “Doc” Gallagher used his radio shows to target Christian listeners to invest through his company, Gallagher Financial Group Inc., according to a Securities and Exchange Commission complaint filed in the U.S. District Court for the Northern District of Texas.
Gallagher falsely held himself out as a registered investment adviser, although he hasn’t been associated with a registered firm since 2009, the SEC said. He used his three radio shows, website, and ...
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