A Montgomery County jury has found Janey Sears, 72, of Washington, D.C., guilty of stealing more than $406,000 from a Silver Spring man through a years-long romance and investment fraud scheme.
According to prosecutors, Sears met the victim on an online dating site in 2019 and portrayed herself as a Harvard-educated businesswoman. After moving into the victim’s Silver Spring home, she convinced him to take out a $150,000 home equity line of credit and repeatedly persuaded him to invest in what she claimed was an exclusive Pfizer stock investment opportunity. Between 2021 and 2023, the victim gave Sears $406,954 through checks, wire transfers and cash, believing the money was being invested.
Prosecutors said Sears instead deposited the money into her personal accounts, spending $55,000 on a 2022 Alfa Romeo Giulia and gambling away more than $100,000 at casinos, including MGM National Harbor, Maryland Live! Casino and Ocean Resort Casino in New Jersey.
Following a two-day trial, the jury found Sears guilty of theft scheme over $100,000, securities fraud and misappropriation of funds by a fiduciary after deliberating for about 75 minutes. She faces up to 23 years in prison and is scheduled to be sentenced on Aug. 28.
