MINEOLA, N.Y. — A Daytona Beach man has been charged with grand larceny and identity theft for allegedly withdrawing and spending nearly $80,000 in pension payments intended for his father, who passed away in 2019, Nassau County prosecutors announced Friday.
Richard Gaines Jr., 51, was arraigned in Nassau County on charges of second-degree grand larceny, a C felony, and first-degree identity theft, a D felony. He pleaded not guilty and was released on his own recognizance. If convicted, he faces up to 15 years in prison.
Prosecutors say that Gaines’ father, a Long Beach resident, was receiving monthly pension payments from the New York State and Local Retirement System (NYSLRS) via direct deposit into his bank account. Following the father’s death on November 11, 2019, the pension deposits continued, totaling $79,943 over two and a half years.
According to investigators, Gaines used his deceased father’s debit card and PIN to make more than 130 ATM withdrawals from the account, amounting to $45,980. He also allegedly used the card for 28 purchases totaling $2,484 at stores including BJ’s Wholesale, Stop & Shop, and Walmart in Nassau County. Additional withdrawals were reportedly made in New Jersey, Georgia, and Florida.
The fraud was uncovered when Gaines reported his father’s death to NYSLRS in June 2022, at which point the pension payments were halted.
“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 Nassau County District Attorney Anne T. Donnelly. “Financial abuses like the alleged theft committed by this defendant undermine this essential system and place an unnecessary burden on resources that provide security for retirees.”
New York State Comptroller Thomas P. DiNapoli, whose office oversees the pension fund, stated, “Mr. Gaines allegedly exploited his father’s death to pocket nearly $80,000 he was not entitled to. We will continue to work with law enforcement to protect the pension fund from fraud.”
Gaines surrendered to Nassau County investigators on November 22, 2024, and is due back in court on November 27.
The case is being handled by the Nassau County District Attorney’s Major Financial Frauds Bureau, led by Senior Assistant District Attorney Taylor Cain.