.. ORIGINAL

SEALED IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS

DALLAS DIVISION

SECURITIES AND EXCHANGE COMMISSION

Plaintiff,

V.

WILLIAM NEIL "DOC" GALLAGHER, GALLAGHER FINANCIAL GROUP, INC. and W. NEIL GALLAGHER, Ph.D. AGENCY, INC.

Defendants.

COMPLAINT

Civil Action No.:

FILED UNDER SEAL

Plaintiff Securities and Exchange Commission (the "SEC") files this Complaint against

Defendants William Neil "Doc" Gallagher, Gallagher Financial Group, Inc. ("GFG"), and W.

Neil Gallagher, Ph.D. Agency, Inc. ("Gallagher Agency") (collectively "Defendants"), and

alleges as follows:

I. SUMMARY

1. Since at least December 2014, William Neil "Doc" Gallagher ("Gallagher"), a

long-time radio personality in the Dallas/Fort Worth metroplex who markets himself as "The

Money Doctor," has perpetrated an affinity-fraud investment scheme on investors through two

North Texas-based companies he owns and controls, GFG and the Gallagher Agency. Despite

having no valid securities-industry credentials, Gallagher has offered and sold securities, raising

at least $19,606,977.97 from at least approximately 60 investors-ranging in age from 62 to

91-while claiming to be a fully licensed advisor offering retirement advice and investment

SEC v. William Neil "Doc" Gallagher, et al. COMPLAINT Page 1

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JS44 (Rev. 06/17)-TXND (Rev. 06/17) - -The JS 44 civil cover sheet and the information contained herein neither replace nor supplement the filing and service of pleadings or other papers as required by law, except as provided by local rules of court. This form, approved by the Judicial Conference of the United States in September 1974, is required for the use of the Clerk of Court for the purpose of initiating the civil docket sheet. (SEE INSTRUCTIONS ON NEXT PAGE OF THIS FORM.)

I. (a) PLAINTIFFS SECURITIES AND EXCHANGE COMMISSION

(b) County of Residence of First Listed Plaintiff (EXCEPTIN US. PLAINTIFF CASES)

(c) Attorneys (Firm Name, Address, and Telephone Number)

DEFENDANTS W. NEIL GALLAGHER, GALLAGHER FINANCIAL GROUP, INC., and W. NEIL GALLAGHER, PH.D. AGENCY, INC.

Attorneys (If Known)

MAR - 7 2019 >L

II. BASIS OF J III. CITIZENSHIP OF PRINCI AJ,i Plaintiff •-..:..:.=.;.;..----'-a:;:n::'.'.di:o'i.n::'.:e~B;;o::;x7,o::;:rc;D'i'.:e~e;;;;i:a::!.nt)

0 3 Federal Question ~ I U.S. Government

Plaintiff (US. Government Not a Party)

0 4 Diversity 0 2 U.S. Government Defendant (Indicate Citizenship of Parties in Item Ill)

IV NATURE OF SUIT (Place an "X" in One Box Only) I nN••.,,,.CT •· -· • • .. ,-Ts · : :, : ·· .•

0 110 Insurance PERSONAL INJURY 0 120 Marine O 310 Airplane 0 130 Miller Act O 315 Airplane Product 0 140 Negotiable Instrument Liability 0 150 Recovezy of Overpayment O 320 Assault, Libel &

& Enforcement of Judgment Slander 0 151 Medicare Act O 330 Federal Employers· 0 152 Recovezy of Defaulted Liability

Student Loans O 340 Marine (Excludes Veterans) 0 34 5 Marine Product

PERSONAL INJURY 0 365 Personal lnjUI)' -

Product Liability 0 367 Health Care/

Pharmaceutical Personal InjUI)' Product Liability

0 368 Asbestos Personal InjUI)' Product Liability

(For Diversity Cases Only) PTF DEF PTF DEF

Citizen of This State

Citizen of Another State

0 625 Drug Related Seizure orProperty 21 use 881

0 690 Other

0 I 0 I Incorporated or Principal Place O 4 0 4 of Business In This State

0 2 0 2 Incorporated and Principal Place of Business In Another State

0 5 0 5

0 3 0 3 Foreign Nation 06 06

Click here for: Nature of Suit Code Descnnllons. •ra, ,y._··: .>. '.[', ·· .:·1

0 422 Appeal 28 USC 158 0 423 Withdrawal

28 use 157

0 820 Copyrights 0 830Patent 0 83 5 Patent - Abbreviated

New Drug Application 0 840 Trademark

0 375 False Claims Act 0 376 Qui Tam (31 USC

3729(a)) 0 400 State Reapportiomnent 0 410 Antitrust 0 430 Banks and Banking 0 450 Commerce 0 460 Deportation 0 4 70 Racketeer Influenced and

0 153 Recovezy of Overpayment Liability of Veteran's Benefits O 350 Motor Vehicle

PERSONAL PROPERTY 0 370 Other Fraud 0 710 Fair Labor Standards

Act

.. . .. 0 861 HIA ( 1395ft)

Corrupt Organizations 0 480 Consumer Credit 0 490 Cable/Sat TV

0 160 Stockholders' Suits Q,(355 Motor Vehicle 0 190 Other Contract Product Liability 0 195 Contract Product Liability O 360 Other Personal 0 I 96 Franchise Injuzy

I • .. ~,,lJ.,PROPEKTY·

0 210 Land Condemnation 0 220 Foreclosure 0 230 Rent Lease & Ejectment 0 240 Torts to Land 0 245 Tort Product Liability 0 290 All Other Real Property

0 362 Personal lnjUI)' -Medical Maloractice

0 440 Other Civil Rights 0 441 Voting 0 442 Employment 0 443 Housing/

Accommodations 0 445 Amer. w/Disabilities -

Employment 0 446 Amer. w/Disabilities -

Other 0 448 Education

V. ORIGIN (Placean "X"inOneBoxOnly)

0 371 Truth in Lending 0 380 Other Personal

Property Damage 0 385 Property Damage

Product Liability

Habeas Corpus: 0 463 Alien Detainee 0 510 Motions to Vacate

Sentence 0 530 General 0 535 Death Penalty

Other: 0 540 Mandamus & Other 0 550 Civil Rights 0 555 Prison Condition 0 560 Civil Detainee -

Conditions of Confinement

0 720 Labor/Management Relations

0 740 Railway Labor Act 0 751 Family and Medical

Leave Act · • 0 790 Other Labor Litigation

0 791 Employee Retirement Income Security Act

0 462 Naturalization Application 0 465 Other Immigration

Actions

0 862 Black Lung (923) 0 863 DIWC/DIWW (405(g)) 0 864 SSID Title XVI 0 865 RSI (405(g})

0 870 Taxes (U.S. Plaintiff or Defendant)

0 871 IRS-Third Party 26 use 7609

0 850 Securities/Commodities/ Exchange

0 890 Other Statutozy Actions 0 891 Agricultural Acts 0 893 Enviromnental Matters 0 895 Freedom of Information

Act 0 896 Arbitration 0 899 Administrative Procedure

Act/Review or Appeal of Agency Decision

0 950 Constitutionality of State Statutes

],-: I Original O 2 Removed from Proceeding State Court

0 3 Remanded from Appellate Court

0 4 Reinstated or Reopened

0 5 Transferred from Another District (specify)

0 6 Multidistrict Litigation -Transfer

0 8 Multidistrict Litigation -Direct File

Cite the U.S. Civil Statute under which you are filing (Do not cite jurisdictional statutes unless diversity):

VI. CAUSE OF ACTION 1-l.:.::5_U""._S .... C_. -7""'7"""""a'""""""l'-'an=d..:.7...,7...,a,.....3 .... ·""'1""5-"U""'.S"".""C'-. .._7...,7'""""a"""""2,.,,· .... 15"-"'U.:.:..S;.:.;.C"" . ...,__7_8.._· b...._· e_t..:.al_,_. ___________ _ Brief description of cause:

VII. REQUESTED IN COMPLAINT:

Violations of Federal Securities Laws 0 CHECK IF THIS IS A CLASS ACTION

UNDER RULE 23, F.R.Cv.P. DEMAND$

VIII. RELATED CASE(S) IF ANY (See instructions):

filDGE

DATE

03/07/2019 FOR OFFICE USE ONLY

RECEIPT# AMOUNT

SIGNATURE OF ATTORNEY OF RECORD

Janie L. Frank

APPL YING IFP

CHECK YES only if demanded in complaint:

JURY DEMAND: 0 Yes ONo

JU

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