North Texas Financial Planner William Neil 'Doc' Gallagher Arrested In Securities Fraud, Money Laundering Scheme
DALLAS (CBSDFW.COM) - 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.
READ THE CRIMINAL COMPLAINT HERE
The DA's office said investors should contact the Texas State Securities Board to file a complaint.
Texas State Securities Board
8700 N Stemmons Freeway, Suite 144
Dallas, TX 75247.
(214) 630-8681
www.ssb.texas.gov
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.
