On Monday, William Neil “Doc” Gallagher, a Texas radio host, received three life prison terms.
He was convicted of a Ponzi scheme where senior citizen radio supporters lost millions of dollars altogether.
After making a guilty plea in August, he also received a 30 year sentence that will be served concurrently.
More than twenty-four elderly victims testified during the court hearing. They spoke about losing between $50,000 to $60,000 when they put their money into Gallagher Financial Group.
As a result, some say they have had to put their homes on the market. Others have borrowed money from their children or have gotten a part-time job.
80 year-old Gallagher and his financial group promoted their business on Christian radio and in churches. He did this with his books, too, with one titled, “Jesus Christ, Money Master.”
It is said that Gallagher obtained a total of about $32 million from the elderly victims.
He had already received a 25 year sentence in another case.