Debra Mae Carter, the mistress of Christian Ponzi schemer William Neil "Doc" Gallagher, was sentenced to life in prison for her role in Gallagher's Ponzi scheme that defrauded senior citizens out of millions of dollars. Gallagher, known as the "Money Doctor," was sentenced on November 1, 2021, to three life sentences in prison, plus an additional 30 years, on charges including forgery, securing the execution of a document by deception, theft of property, and exploitation of the elderly.
Gallagher's primary role in the scheme was to attract money, while Carter ensured it could not be recovered by the victims. The pair planned to retire to a large ranch together. After a two-week trial, a Tarrant County jury found Carter, 65, guilty of money laundering for her involvement in Gallagher's illegal activities. Judge Elizabeth Beach sentenced Carter on July 30.
Carter represented herself during the trial, which experienced delays due to the unavailability of witnesses and Carter's brief hospitalization. Tarrant County Assistant District Attorneys Lori Vamell, Nathan Martin, and Anastasia Frane informed the jury that Carter and Gallagher amassed more than $31 million over ten years, affecting over 170 mostly retired victims.
"These were hard-earned retirement dollars which got put into her account over and over again," Vamell said. "She is a blight on society. She's just a liar. That's what she does."
Carter laundered much of the money through rental homes, land, fake charities, and other means. About $200,000 in gold and silver was seized from her travel trailer. During the sentencing phase, victims described the impact of losing their investment money.
Brenda Wilkerson, 84, invested with Gallagher using money she and her late husband inherited. She stated that if she had that money now, she could pay off the mortgage on her home. Instead, she will be making payments until she dies.
"Debbie Carter deserves life in prison," Wilkerson said. "She has ruined so many lives. It's despicable."
DA Investigators Patrick Truly and Dara Couch, along with Victim Coordinator Carrie Farley, worked on the case. The Hurst Police Department was acknowledged for their efforts in this case and their commitment to community safety.
