Mistress of 'Jesus Christ Money Master' author gets life in prison for role in Ponzi scheme
Debra Mae Carter, the mistress of former Texas radio host William Neil "Doc" Gallagher, who wrote the Jesus Christ, Money Master Leader Guide, was sentenced to life in prison Tuesday for her role in a Ponzi scheme that defrauded more than 190 people — many of whom were older adult Christians — of more than $31 million.
Carter, 65, was found guilty by a jury on July 8 of money laundering after a two-week trial, the Tarrant County Criminal District Attorney’s Office said in a press release.
Gallagher, who was once president and CEO of the Gallagher Financial Group and called himself the "Money Doctor," was sentenced on Nov. 1, 2021, to three life sentences in prison plus another 30 years behind bars on charges including forgery, securing the execution of a document by deception, theft of property and exploitation of the elderly, the release said.
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He claimed on his company’s website that their mission was “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.” He also advertised on Christian radio with the tagline: “See you in church on Sunday.”
In addition to visiting churches and promoting his business on Christian radio stations owned by Salem Media, Gallagher promoted his investment business in books like Jesus Christ, Money Master.
His main role in the scheme was to bring in money while Carter's role was to make sure it wasn't recovered by the victims. The couple had planned to retire on a huge ranch together.
Tarrant County Assistant District Attorneys Lori Varnell, Nathan Martin and Anastasia Frane told the jury that Carter and Gallagher preyed on the older adults they swindled.
"These were hard-earned retirement (dollars) which ... got put into her account over and over again," Varnell said. "She is a blight on society."
At Gallagher’s sentencing in 2021, Varnell said he was one of the “worst offenders” she had ever seen.
“’Doc’ Gallagher is one of the worst offenders I have seen,” Varnell said. “He ruthlessly stole from his clients who trusted him for almost a decade. He amassed $32 million in loss to all of his clients and exploited many elder individuals. He worked his way around churches preying on people who believed he was a Christian.”
Prosecutors said Carter laundered much of the money through assets like rental homes, land and fake charities. Some $200,000 worth of gold and silver was seized after it was found in her travel trailer.
Brenda Wilkerson, 84, who invested in the couple’s scheme, said she is still paying a mortgage on her home because of the couple. She said she invested money she inherited from her late husband in their scheme.
"Debbie Carter deserves life in prison," Wilkerson said. "She has ruined so many lives. ... It's despicable."
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