Richard Gaines Jr. allegedly took out about $80,000 in pension money from the New York State and Local Retirement System by taking advantage of his father’s passing (WNY News Now).
A Florida man was charged with grand larceny and identity theft by New York State Comptroller Thomas P. DiNapoli and District Attorney Anne T. Donnelly for allegedly accepting, taking out, and spending close to $80,000 in pension payments from the New York State and Local Retirement System (NYSLRS) to the defendant’s father, who had died in 2019.
Judge Geoffrey Prime arraigned Richard Gaines Jr., 51, of Daytona Beach, Florida, today on counts of identity theft in the first degree (a D felony) and grand larceny in the second degree (a C felony). After entering a not guilty plea, the defendant was freed on his own recognizance. His next court date is November 27, 2024. The defendant may spend up to 15 years behind bars if found guilty.
According to DiNapoli, Mr. Gaines reportedly took advantage of his father’s passing to pocket about $80,000 that he was not entitled to. To safeguard the pension fund, I will keep collaborating with law enforcement throughout the state and the nation. I would want to express my gratitude to Nassau County District Attorney Donnelly for working with my team of investigators. We shall remain resolute in our efforts to prevent fraud in the pension system.
According to DA Donnelly, this defendant allegedly stole tens of thousands of dollars from his deceased father’s pension funds, to which he had no right, by defrauding our state’s pension system. Public employees who have worked hard for years to achieve their pensions are supported by the state’s retirement system. Financial crimes such as the defendant’s alleged theft damage this vital institution and unnecessarily strain the resources that offer hundreds of thousands of pensioners and their beneficiaries protection.
According to the accusations, the defendant’s father, who lived in Long Beach, was the only owner of a bank account where he got his NYSLRS pension through direct deposit, according to DA Donnelly.
All payments should have stopped on November 11, 2019, the day the pensioner passed away. The $79,943 in pension deposits into the bank account continued after his passing.
The defendant informed NYSLRS in June 2022 that his father had passed away in 2019 and that his pension benefits had been stopped.
A follow-up investigation revealed that the defendant used his father’s debit card and ATM PIN to allegedly make over 130 withdrawals totaling $45,980 from his deceased father’s account between November 11, 2019, and May 31, 2022.
Additionally, the defendant allegedly made 28 purchases totaling $2,484 at establishments in Nassau County, including BJ’s Wholesale, Stop & Shop, Wal-Mart, and others, using his father’s debit card.
Additionally, it is alleged that the defendant withdrew money from ATMs in Florida, Georgia, and New Jersey.
On November 22, 2024, Gaines Jr. turned himself in to NCDA Detective Investigators.
Under the direction of Bureau Chief Maureen McCormack and Crimes Against Revenue Unit Chief Christine Burke, as well as Executive Assistant District Attorney for the Investigations Division Rick Whelan, the case is being prosecuted by Senior Assistant District Attorney Taylor Cain of the Major Financial Frauds Bureau. The Legal Aid Society represents the defendant.
The defendant is deemed innocent unless and until proven guilty in a court of law, and the charges in this case are only accusations.