A 72-year-old Washington, D.C. woman has been sentenced to 20 years in prison for stealing a Silver Spring man of more than $406,000 over a years-long romance and investment scheme.
According to NBC4, Janey Sears was sentenced to 20 years in prison on Friday, with the first five suspended. Sears will serve 15 years in jail, followed by five years of supervised probation upon her release.
The judge also sentenced Sears to pay approximately $407,000 in reparations in $10,000 monthly installments after her release. As previously reported in July, a Montgomery County jury found Sears guilty of a $100,000 theft conspiracy, securities fraud, and misappropriation of money by a fiduciary.
Prosecutors say Sears contacted the victim on an online dating service in 2019 and described herself as a Harvard-educated businesswoman. After settling into his Silver Spring home, she persuaded him to take out a $150,000 home equity line of credit and repeatedly persuaded him to invest in what she characterized as a unique Pfizer stock opportunity.
Between 2021 and 2023, the victim sent Sears $406,954 in cheques, wire transfers, and cash, believing the money was being invested. Prosecutors claim Sears instead put the funds into her own accounts. She spent $55,000 on a 2022 Alfa Romeo Giulia and gambled more than $100,000 at casinos such as MGM National Harbor and Maryland Live! Casino and Ocean Resort Casino are both in New Jersey.
Following a two-day trial, jurors considered for just 75 minutes before convicting Sears.
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