Ok, let’s talk about this William Gallagher money request thing with PayPal. I had to dig into this because, frankly, it sounded sketchy from the get-go. Turns out, it’s a pretty messed up story.
So, this guy, William Neil “Doc” Gallagher, he called himself the “Money Doctor” on the radio. He was running this scam, targeting elderly folks, promising them big returns on their investments. It was a total Ponzi scheme, and he ended up swindling people out of $32 million. Can you believe that? Thirty-two million dollars! From seniors, no less. It’s absolutely disgusting.
I started looking into how this whole thing was playing out with PayPal, I found the court is trying to get some of the money back to Gallagher’s victims. They’re sending letters, asking them to provide proof of claims to document what they lost. It’s a long shot, but at least they’re trying to make things right. They sent letters to more than 60 of Gallagher’s clients.
I looked at how to request money on PayPal. On your phone, it’s pretty simple: You just tap “Send/Request,” then “Get paid.” You put in the person’s name, email, or phone number, then type in the amount you’re asking for. Done. But, and this is a big but, you gotta be super careful about scams when requesting the money. Fraudsters can make fake invoices and requests that look real, trying to trick you into calling them or sending them money.
Gallagher, though, he’s facing the music. He pleaded guilty to securities fraud and money laundering. And get this, he got sentenced to multiple life sentences. Yeah, life. It’s a harsh sentence, but considering what he did, it seems kind of fitting. He betrayed people’s trust and ruined lives. He was arrested on March 8, 2019. Judge Elizabeth Beach sentenced Gallagher to life terms on three charges.
- The Charges: This dude was charged with some serious stuff, including securing the execution of a document by deception for over $200,000, securities fraud, and money laundering. He took a plea deal, which is why he didn’t go to trial.
- The Victims: I read that a lot of the people he scammed were elderly and sick. This makes the whole thing even more messed up. These were vulnerable people who trusted him with their life savings.
- PayPal’s Role: Now, PayPal’s connection here is kind of indirect. It looks like some victims might have used it to transfer funds. If their PayPal accounts have a positive balance, that money can be transferred to an associated bank account. But it’s not clear how much, if any, money was actually recovered through PayPal.
- Using PayPal: There are two ways to receive the money, invoices and money requests. Invoices are more useful if you need to provide an itemized statement, and money requests are for personal use. Both options allow the sender to be paid directly into their PayPal wallet. And It’s just 5.40% + $0.30 per paid request.
So, what’s the takeaway here?
Well, first off, be super careful with your money. If something sounds too good to be true, it probably is. And when it comes to PayPal, always double-check those invoices and money requests. Make sure they’re legit before you send a dime.
This whole William Gallagher case is a sad reminder that there are some really bad people out there. But it’s also a reminder to be vigilant and protect yourself and your loved ones from financial scams. Stay safe out there, folks!
