William Neil Gallagher, a Texas radio host known as the Money Doctor who promoted his business on Christian radio, was sentenced to three life terms for a Ponzi scheme that defrauded more than 190 listeners of at least $23 million.

Mr. Gallagher, 80, targeted older investors, promoting his company, Gallagher Financial Group, in churches and on the radio, according to prosecutors. The company had offices in Dallas and in Hurst, a city about 25 miles west from Dallas in Tarrant County.

Mr. Gallagher, who went by the nickname Doc, pleaded guilty on Aug. 31 to several charges connected to what prosecutors described as a Ponzi scheme that lasted nearly 10 years and bilked older people of their retirement savings. He was sentenced to three life sentences on Monday and an additional 30 years for charges of forgery against the elderly and exploitation of the elderly.

“Doc Gallagher is one of the worst offenders I have seen,” Lori Varnell, chief of the elder financial fraud unit at the Tarrant County Criminal District Attorney’s office, said in a statement. “He ruthlessly stole from his clients who trusted him for almost a decade.”

In March 2020, a Dallas County judge sentenced Mr. Gallagher to 25 years in state prison and ordered him to pay more than $10 million in restitution to the victims of his scheme. He pleaded guilty to the charges in that case.

A lawyer for Mr. Gallagher did not immediately respond to messages seeking comment.

Anna Tinsley Williams, a spokeswoman for…

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