USA: CHRISTIAN RADIO LISTENERS SCAMMED FOR MILLIONS OF DOLLARS

CHRISTIAN RADIO LISTENERS SCAMMED FOR MILLIONS OF DOLLARS
BBC News dedicated an extensive report to the scam perpetrated on hundreds of listeners of a Catholic radio station in Texas by a supposed financial ‘guru’
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In YouTube ads, he claimed to be a guru who had led more than a thousand clients to financial independence. But in reality, William Neil ‘Doc’ Gallagher was a fraudster, advertising his financial services from a Christian Protestant radio station in North Texas. With commercials promising returns of between 6 and 8%, he had convinced about two hundred pensioners, listeners of the Christian radio station, to entrust him with 32 million dollars, most of which he ‘burned’ in personal expenses. Financially, nothing new: Gallagher applied the classic ‘Ponzi scheme’, paying interest with money collected from new clients until the castle collapsed. The novelty lies in the fact that Gallagher exploited the notoriety and credibility of the Christian broadcasters (followed in the States by more than 20 million believers) to get rich. But in the end, justice presented him with his bill: the ‘money doctor’, now in his 80s, will have to serve three life sentences, in addition to the 25 years, he was sentenced to in 2020 by a Dallas court.

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