"From December 2014 through January 2019, he raised at least $19.6 million from approximately 60 senior citizens. Falsely claiming to be a licensed investment adviser, he offered an investment that he called a Diversified Growth and Income Strategy Account. He promised to acquire income-generating assets for his clients in five specified categories."
"He also promised investors that they would receive guaranteed, risk-free returns in their accounts ranging from 5% to 8% per year. In reality, except for one $75,000 annuity purchase, Gallagher purchased no assets in any of the five categories and no other assets to back the promised returns.""Instead, he exhausted virtually all investor funds on spending unrelated to the accounts, including misappropriating significant portions for personal and company expenses and Ponzi payments to investors. To lull investors and conceal the scheme, Gallagher provided phony account statements showing false account balances."
After concluding his life sentence, may he roast in hell for eternity!Link