District Attorney Anne T. Donnelly and New York State Comptroller Thomas P. DiNapoli announced that a Florida man was charged with grand larceny and identity theft for allegedly accepting, withdrawing, and spending nearly $80,000 in funds from pension payments made by the New York State and Local Retirement System (NYSLRS) to the defendant’s father who had passed away in 2019.
Richard Gaines Jr., 51, of Daytona Beach, Florida, was arraigned today before Judge Geoffrey Prime on charges of Grand Larceny in the Second Degree (a C felony) and Identity Theft in the First Degree (a D felony). The defendant pleaded not guilty and was released on his own recognizance. He is due back in court on November 27, 2024. If convicted, the defendant faces up to 15 years in prison.
“This defendant allegedly defrauded our state’s pension system, stealing tens of thousands of dollars of his deceased father’s pension funds to which he was not entitled,” said DA Donnelly. “The state’s retirement system is built to support public employees who earned their pensions over years of hard work. Financial abuses like the alleged theft committed by this defendant undermine this essential system and places an unnecessary burden on resources that provide security for hundreds of thousands of retirees and their beneficiaries.”
“Mr. Gaines allegedly exploited his father’s death to pocket nearly $80,000 he was not entitled to,” DiNapoli said. “I will continue to work with law enforcement across the state and country to protect the pension fund. My thanks to Nassau County District Attorney Donnelly for her partnership with my investigative team. We will continue to steadfastly guard the pension system from fraud.”
DA Donnelly said that, according to the charges, the defendant’s father, a Long Beach resident, was the sole account holder of a bank account in which he received his NYSLRS pension via direct deposit.
The pensioner died on November 11, 2019, at which time all benefits should have ceased. After his death, pension deposits continued to be made into the checking account totaling $79,943.
In June 2022, the defendant reported to NYSLRS that his father had died in 2019 and pension payments were terminated.
A subsequent investigation showed that between November 11, 2019, and May 31, 2022, the defendant allegedly made more than 130 ATM withdrawals from his deceased father’s account, totaling $45,980, using his father’s debit card and ATM personal identification number.
The defendant allegedly also used his father’s debit card to conduct 28 transactions totaling $2,484 for purchases at Nassau County businesses including BJ’s Wholesale, Stop & Shop, Wal-Mart, and other stores.
The defendant also allegedly made ATM withdrawals in the states of New Jersey, Georgia, and Florida.
Gaines Jr. surrendered to NCDA Detective Investigators on November 22, 2024.
The case is being prosecuted by Senior Assistant District Attorney Taylor Cain of the Major Financial Frauds Bureau under the supervision of Crimes Against Revenue Unit Chief Christine Burke and Bureau Chief Maureen McCormack and under the overall supervision of Executive Assistant District Attorney for the Investigations Division Rick Whelan. The defendant was represented by the Legal Aid Society at arraignment.
The charges are merely accusations, and the defendant is presumed innocent until and unless found guilty.