{"id":6874,"date":"2019-03-18T13:04:14","date_gmt":"2019-03-18T18:04:14","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6874"},"modified":"2019-03-18T13:04:14","modified_gmt":"2019-03-18T18:04:14","slug":"radio-host-accused-in-19-6m-texas-scam-that-targeted-elderly-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/radio-host-accused-in-19-6m-texas-scam-that-targeted-elderly-investors\/","title":{"rendered":"Radio Host Accused in $19.6M Texas Scam That Targeted Elderly Investors"},"content":{"rendered":"<p>\t\t\t\tWilliam Neil Gallagher, a Dallas area-based radio host based who calls himself the \u201cMoney Doctor,\u201d is now facing securities fraud charges accusing him and his companies, Gallagher Financial Group and W. Neil Gallagher, PhD Agency, Inc., of seeking to defraud older investors of their retirement money in a $19.6M Texas-based Ponzi scam\/affinity fraud. The <a href=\"https:\/\/www.sec.gov\/litigation\/litreleases\/2019\/lr24420.htm\" target=\"_blank\" rel=\"noopener noreferrer\">US Securities and Exchange Commission (SEC) <\/a>brought the civil fraud charges against them.<\/p>\n<p>According to the SEC\u2019s <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2019\/comp24420.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">complaint<\/a>, from 12\/2014 through 1\/2019, Gallagher, who is based in the Dallas\/Fort Worth area, raised at least $19.6M (maybe even up to more than $29M) from about 60 elderly investors ranging in age from about 60 to the early 90&#8217;s. He allegedly did this through his companies in what the regulator is referring to as an \u201caffinity fraud investment scam\u201d that is also a Ponzi scheme.<\/p>\n<p>Gallagher is accused of using his radio shows to target retired Christian investors, who were his radio audience, and to whom he ingratiated himself by often making religious references on his shows. He also allegedly urged radio listeners to call GFC to set up meetings, during which he would help them with their retirement plans and give them advice regarding how to make money without having to take on any risks.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/radio-host-accused-in-19-6m-texas-scam-that-targeted-elderly-investors\/\"  title=\"Continue Reading Radio Host Accused in $19.6M Texas Scam That Targeted Elderly Investors\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>William Neil Gallagher, a Dallas area-based radio host based who calls himself the \u201cMoney Doctor,\u201d is now facing securities fraud charges accusing him and his companies, Gallagher Financial Group and W. Neil Gallagher, PhD Agency, Inc., of seeking to defraud older investors of their retirement money in a $19.6M Texas-based Ponzi scam\/affinity fraud. The US [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3918,3781,3760,3803,3750],"tags":[3322,3323,3324,3325],"class_list":["post-6874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affinity-fraud","category-investment-advisers","category-sec-enforcement","category-senior-investors","category-texas-securities-fraud","tag-dgi-accounts","tag-diversified-growth-and-income-strategy-accounts","tag-gallagher-financial-group","tag-william-neil-gallagher"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Radio Host Accused in $19.6M Texas Scam That Targeted Elderly Investors &#8212; Investor Lawyers Blog &#8212; March 18, 2019<\/title>\n<meta name=\"description\" content=\"William Neil Gallagher is now facing securities fraud charges accusing him and his companies of a $19.6M Texas-based Ponzi scam.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/radio-host-accused-in-19-6m-texas-scam-that-targeted-elderly-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Radio Host Accused in $19.6M Texas Scam That Targeted Elderly Investors &#8212; 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