A 72-year-old Washington, D.C., woman has been sentenced to 20 years in prison for stealing more than $406,000 from a Silver Spring man through a years-long romance and investment fraud scheme.
According to NBC4, a judge sentenced Janey Sears on Friday to 20 years, with five years suspended. Sears will serve 15 years in prison, followed by five years of supervised probation after her release.
The judge also ordered Sears to pay nearly $407,000 in restitution through monthly payments of $10,000 after she is released. As we reported in July, a Montgomery County jury found Sears guilty of theft scheme over $100,000, securities fraud and misappropriation of funds by a fiduciary.
According to prosecutors, Sears met the victim on an online dating site in 2019 and presented herself as a Harvard-educated businesswoman. After moving into his 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 described as an exclusive Pfizer stock 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. She spent $55,000 on a 2022 Alfa Romeo Giulia and gambled 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, jurors deliberated for approximately 75 minutes before finding Sears guilty.
