North Texas Financial Planner William Neil ‘Doc’ Gallagher Arrested In Securities Fraud, Money Laundering Scheme

(dfw) -- Authorities arrested investment advisor William Neil “Doc” Gallagher on charges of engaging in a multimillion-dollar fraudulent investment scheme through his company Gallagher Financial Group, the Dallas County District Attorney’s Office said in a news release Tuesday.

A Dallas County Grand Jury indicted Gallagher, the President and CEO of Gallagher Financial Group for Securities Fraud of $100,000 or more and Money Laundering of $300,000 or more, two first-degree felonies.

The firm has offices in Dallas and Hurst.

The criminal investigation into the activities of Gallagher and his company is ongoing.


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The DA’s office said investors should contact the Texas State Securities Board to file a complaint

In addition, the United States Securities and Exchange Commission filed an emergency civil action late last week in a Dallas Federal Court.

The Court entered an order freezing assets and appointing Cort Thomas, a Dallas attorney as receiver.

The Court Appointed Receiver will begin marshaling the assets of the receivership estate for the benefit of investors and others with a legal claim.

This prosecution is a result of a joint investigation by the Dallas County District Attorney’s Office, the Texas Department of Insurance, the Texas State Securities Board and the Hurst Police Department.


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