Texas Christian Radio Star Liable In $29M Ponzi Scheme
Law360 (July 9, 2020, 4:31 PM EDT) -- A Texas federal judge has found a Christian radio personality and author of "Jesus Christ, Money Master" liable for U.S. Securities and Exchange Commission charges related to a $29 million Ponzi scheme that targeted the elderly.
William Neil "Doc" Gallagher, 79, who is currently being held in Dallas County jail for state criminal charges related to the scheme, is liable for multiple Securities and Exchange Act violations for using his radio show, which melded Christianity and financial planning, to "attract a Christian audience" to the alleged scheme, U.S. Senior District Judge Sam R. Cummings ruled Tuesday.
The SEC on June 1...
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