Debra Mae Carter, the alleged mistress of Ponzi schemer and self-proclaimed Christian William Neil “Doc” Gallagher, was sentenced to life in prison for money laundering.
Gallagher, a former radio host who called himself the “Money Doctor,” was sentenced to three concurrent life sentences in prison in 2021 for a Ponzi scheme that bilked millions of dollars from elderly people through his company, Gallagher Financial Group. More than a dozen senior citizens testified at a court hearing that they had to sell their homes, borrow money from their children, or take part-time jobs after losing their savings to Gallagher, reported the Associated Press.
“Doc Gallagher is one of the worst offenders I have seen,” said Lori Varnell, chief of the Tarrant County District Attorney’s Elder Financial Fraud team, according to AP.
Now, Gallagher’s alleged mistress has been sentenced to life in prison for her role in the Ponzi scheme.
“At the end of a two-week trial that featured an ex-spouse, investors — and even Gallagher himself — a Tarrant County jury on July 8 found Carter, 65, guilty of money laundering for her role in Gallagher’s illegal scheme. Judge Elizabeth Beach sentenced Carter on July 30,” the Tarrant County Criminal District Attorney’s Office press release stated.
“Carter laundered much of the money through rental homes, land, fake charities, and more. About $200,000 in gold and silver was seized after it was found in her travel trailer,” the DA’s office said in the press release.
During the punishment phase of Carter’s trial, several victims of the Ponzi scheme told the court about the impact their financial loss had on their lives.
“Brenda Wilkerson, 84, invested with Gallagher money she and her now late husband inherited. If she had that money now, she could pay off the mortgage on her home. Instead, she said she will be making payments until she dies,” the press release stated.
“Debbie Carter deserves life in prison. She has ruined so many lives. … It’s despicable,” said Wilkerson.
The DA’s office thanked law enforcement for their efforts.
“DA Investigators Patrick Truly and Dara Couch, along with Victim Coordinator Carrie Farley, worked on the case. Thanks to the Hurst Police Department for their work on this case and for their commitment to keeping our community safe,” the press release stated.