Good News! Justice Has Been Served.

Last year we wrote about radio’s “Money Doc” Gallagher swindling $30 million from elderly investors.  Alexander Blog Post 2019. One year later, Gallaher reached a plea deal with Dallas prosecutors for a 25-year prison term. He pled guilty to one count of money laundering for $300,000, one count of theft for $300,000 and one count of securities fraud for $100,000. He has also agreed to pay over $10 million in restitution. DMN Article.

Gallagher’s investment fraud targeted Christians near retirement age or post-retirement in a Ponzi scheme. And, he still faces charges in Tarrant County.

COVID-19. Death Sentence For Some – Prison Reprieve For Others?

The question still remains if 79-year old Gallagher will be able to use his age and health to his advantage in getting out of some of his prison term due to COVID-19 pandemic. At this time, we are not aware of pleadings to limit jail time. However, Michael Avenatti is now serving a 90-day sentence at home. And, Bill Cosby has filed a plea to be released due to the pandemic. Forbes Article. Even Michael Cohen asked for home confinement, but the Federal Judge denied that request. For now, Doc is sleeping in the slammer, and hopefully coughing up cash for victims of investor fraud.

While we can rest a little easier now that Gallagher is no longer a threat, there are countless other fraudsters posing as financial or investment advisors and even pastors ready to take your hard-earned savings from you.

  • Hang up on high-pressure sales tactics with limited time to invest messages and above-average earnings claims.
  • Investments in digital tokens, oil and gas and more traditional financial vehicles should be registered with the Texas Securities Commission or the SEC.
  • Even those close to you can pose a risk. Ponzi schemes pay the first few investors so there is a “legitimate” story to tell others.

Contact an Experienced Securities and Investment Fraud Attorney Today!

We hope all your financial investments are profitable. But if you find yourself searching for an experienced oil and gas fraud or commercial litigation lawyer, we are here to help.

Mark Alexander
5080 Spectrum, Suite 850E
Addison, Texas 75001
Ph: 972.544.6968
Fax: 972.421.1500
E-Mail: mark@markalexanderlaw.com
www.commerciallitigationtexas.com
www.oilandgasfraudlawyer.com

Photo of Mark Alexander Mark Alexander

Mark Alexander is the principal of the Firm. In 1979, he earned his undergraduate degree at Wayne State University in Detroit, Michigan, and his law degree at Thomas M. Cooley, Lansing, Michigan, in 1985 (Academic Dean’s List).

Mr. Alexander is licensed…

Mark Alexander is the principal of the Firm. In 1979, he earned his undergraduate degree at Wayne State University in Detroit, Michigan, and his law degree at Thomas M. Cooley, Lansing, Michigan, in 1985 (Academic Dean’s List).

Mr. Alexander is licensed to practice law by the Supreme Courts of the States of Texas (1985) and Michigan (1988), and holds licenses before the following courts: Supreme Court of Texas; Supreme Court of Michigan; United States Court of Appeals for the Fifth and Sixth Circuits; United States District Courts for the Northern, Southern, and Western Districts of Texas; and the Eastern and Western Districts of Michigan. In addition he has been admitted in several other Federal and State Courts to represent Texas clients, who have been engaged in significant litigation in those jurisdictions.

Courts have appointed Mr. Alexander to serve as a receiver, and facilitator in complex litigation lawsuits. Additionally he has been a frequent lecturer for organizations on a variety of business law matters.  Mr. Alexander has also served as an Adjunct Professor of Business Law at Henry Ford College in Dearborn, Michigan. Significantly, Mr. Alexander is AV-rated by Martindale-Hubbell, the highest rating an attorney can receive.

Additionally, due to the complex nature of its practice, the Firm has an on-going relationship with a legal group that provides litigation support services. This group is comprised of a team of attorneys, whose combined capabilities allow the group to provide nearly 24-hour coverage at crucial times for any case. This arrangement is but one example of the innovative, cutting-edge approach that the Firm provides to its clients in order to improve representation at reduced legal fees.