MINEOLA, N.Y.Nassau County prosecutors said Friday that a Daytona Beach man has been charged with grand larceny and identity theft for allegedly taking out and spending about $80,000 in pension payments meant for his father, who died in 2019.
In Nassau County, 51-year-old Richard Gaines Jr. was charged with first-degree identity theft, a D felony, and second-degree grand larceny, a C felony. After entering a not guilty plea, he was freed on his own recognizance. He might spend up to 15 years behind bars if found guilty.
According to the prosecution, the New York State and Local Retirement System (NYSLRS) was directly depositing monthly pension payments into the bank account of Gaines’ father, who lived in Long Beach. The pension deposits continued after the father passed away on November 11, 2019, and over the course of two and a half years, they totaled $79,943.
Investigators say Gaines took out $45,980 from the account through more than 130 ATM withdrawals using his deceased father’s debit card and PIN. Additionally, he is accused of using the card to make 28 purchases totaling $2,484 at Nassau County establishments such as Walmart, BJ’s Wholesale, and Stop & Shop. There were also reports of withdrawals in Florida, Georgia, and New Jersey.
When Gaines informed NYSLRS about his father’s passing in June 2022, the pension payments were stopped, and the scam was discovered.
According to Nassau County District Attorney Anne T. Donnelly, this defendant reportedly stole tens of thousands of dollars from his deceased father’s pension funds, to which he was not entitled, by defrauding our state’s pension system. Financial abuses such as the defendant’s alleged embezzlement damage this vital institution and unnecessarily strain the resources that give pensioners security.
Mr. Gaines reportedly took advantage of his father’s passing to pocket about $80,000 that he was not entitled to, according to New York State Comptroller Thomas P. DiNapoli, whose office is in charge of the pension fund. We will keep collaborating with law enforcement to prevent fraud in the pension fund.
Gaines is scheduled to return to court on November 27, 2024, after turning himself in to Nassau County investigators on November 22, 2024.
Under the direction of Senior Assistant District Attorney Taylor Cain, the Nassau County District Attorney’s Major Financial Frauds Bureau is handling the case.
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