Red has long railed against the “Beggar Christians” that populate some religious TV networks with Pat Robertson’s CBN being the worst offender. There are radio beggars out there too. Red fondly remembers listening to “Brother Al – that’s A L”) as a boy and being amused by his schtick. At least the beggars are somewhat honest in that they plead for your money so they can stay on the air and continue to spread their version of the gospel which generally holds that if you are a true believer God will reward you with riches and prosperity in this lifetime. Red is unaware of the Biblical underpinnings of that claim.
But William Neil “Doc” Gallagher, was not technically a “radio preacher” – he just used them to promote his Christian financial wizardry. Gallagher advertised and promoted his money management firm Gallagher Financial Group, Inc. on Christian radio. Gallagher, the author of “Jesus Christ, Money Master” (and yes, you read that correctly) received high praise from some far-right preachers as Robert Jeffress, the senior pastor of First Baptist Dallas, and regular Fox News contributor called the book “required reading for anyone who is looking for a highly practical and thoroughly biblical guide to financial success.”
Red wonders how Jeffress feels now as Gallagher has been found liable for U.S. Securities and Exchange Commission charges related to a $29 million Ponzi scheme that targeted the elderly. Gallagher, who referred to himself as “The Money Doctor,” promoted his retirement-planning services on a weekly radio show that combined his bullshit investment advise with Christian talking points. According to the SEC, “Gallagher makes frequent religious references on his shows, seeking to appeal to a Christian audience.” When broadcasting on Saturday he signed off with, “See you in church tomorrow.”
GFG claimed to pay equal attention to the spiritual life of their clients and their finances. As the now removed website stated:
“Our mission is to be a vehicle of God’s peace and comfort to as many people as possible, helping first with their financial peace of mind, then also with their spiritual, emotional, and family well-being.”
But in 2019, it became clear that Gallagher was running a Ponzi scheme using new money to pay off older investors and using his investors’ money to buy additional airtime to recruit new suckers and support his lifestyle.
In addition to his SEC troubles, Gallagher has already pleaded guilty to multiple felony counts in Texas state court and been sentenced to 25 years and required to pay over $10 million in restitution. He should have run for office as a Republican. He certainly has the qualifications.