Texas radio host gets 3 life prison sentences for Ponzi scheme
Fox News
A Texas radio host was sentenced to three life prison sentences Monday for a Ponzi scheme in which he bilked elderly listeners out of millions of dollars.
The sentencing came after more than a dozen senior victims testified during a three-hour court hearing about losing anywhere from $50,000 to $600,000 invested in the Gallagher Financial Group. Some said they had to sell their homes, borrow money from their children or take part-time jobs to supplement their Social Security benefits.
"Doc Gallagher is one of the worst offenders I have seen," said Lori Varnell, chief of the Tarrant County District Attorney’s Elder Financial Fraud team.
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Senate Minority Leader Chuck Schumer, D-N.Y., says he will vote to keep the government open while speaking on the Senate floor on Thursday.
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