A Montgomery County jury has convicted Janey Sears, a 72-year-old woman from Washington, D.C., for defrauding a Silver Spring man of more than $400,000. The conviction was announced following a trial in Circuit Court, where Sears was found guilty on multiple charges, including securities fraud and misappropriation of funds.
According to the Montgomery County State's Attorney's Office, Sears exploited her relationship with the victim, a federal employee in his 50s, whom she met on a dating site in September 2019. Prosecutors revealed that she presented herself as a Harvard-educated businesswoman and claimed to own a transportation logistics company based in D.C.
Shortly after their initial meeting, Sears moved into the victim's home, which she claimed was a temporary arrangement to facilitate her travel for work. In May 2020, the victim assisted her in obtaining a $150,000 home equity line of credit.
From August 2021 to May 2023, Sears convinced the man to invest in a supposed “investment pool” for Pfizer stock, promising significant financial returns. Instead of investing the money, she deposited approximately $406,954 into her personal accounts.
Prosecutors indicated that Sears misused the funds for personal expenses, including purchasing a 2022 Alfa Romeo Giulia for $55,000 and gambling away over $100,000 at casinos. She misled the victim by claiming the car was a gift from her father.
Montgomery County State’s Attorney John McCarthy expressed gratitude that the jury recognized the deceitful actions of Sears. She is facing a potential prison sentence of up to 23 years, with a sentencing hearing scheduled for August 28. The prosecution will also seek restitution for the victim during this hearing.
Reported by HarborBeat based on The Baltimore Banner (source).
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