Dacson Sears, Identity Theft and Loan Fraud, New York 2022

BROOKLYN, NY – A pair of Brooklyn men are facing serious charges after allegedly orchestrating a complex identity theft and loan fraud scheme that raked in over $416,000. Authorities say Dacson Sears, 42, of Coney Island, and Raymond Lyles (aka L.A. Ray), 41, of Mount Vernon, NY, stole the personal information of at least 17 victims, constructing complete fake identities to secure fraudulent loans.

The scheme, which ran from January 1, 2022, through January 1, 2024, wasn’t just about swiping a name and Social Security number. According to Brooklyn District Attorney Eric Gonzalez, Sears and Lyles went the extra mile, fabricating entire profiles for each victim – driver’s licenses, bank statements, even forged utility bills and tax returns. They also hijacked email addresses, controlling all communication linked to the stolen identities. The goal? To appear legitimate enough to fool lenders.

“These defendants allegedly perpetrated a sophisticated scam that used stolen identities to defraud financial institutions,” Gonzalez stated. “The health of our banking system depends on honest dealings and my office will continue working with other partners to ensure that fraudsters are stopped and held responsible.” The duo allegedly opened online financial accounts in the victims’ names and applied for personal loans, quickly withdrawing the funds and leaving lenders holding the bag. The total loss from the fraudulent loans is estimated at $416,000.

But the alleged crimes didn’t stop there. Sears is also facing additional charges for allegedly stealing $52,000 in COVID-19 relief funds through the same fraudulent application process. This adds another layer of callousness to a scheme that preyed on the financial vulnerability of both lenders and the individuals whose identities were stolen. NYPD Commissioner Jessica S. Tisch called it a “calculated and shameless scheme,” emphasizing the damage done to public trust in financial institutions.

U.S. Secret Service Special Agent in Charge Patrick J. Freaney echoed those sentiments, stating, “The volitional criminality allegedly carried out by these defendants yielded massive fraudulent gains at the expense of unwitting victims.” Both Sears and Lyles were arraigned before Brooklyn Supreme Court Justice Danny Chun. They are variously charged with fourth-degree conspiracy, second-degree money laundering, first-degree scheme to defraud, third- and second-degree grand larceny, 17 counts of first-degree identity theft, 62 counts of first-degree falsifying business records, and other related charges.

Remarkably, both defendants were released without bail, with a court date set for August 6, 2025. The case is being jointly prosecuted by the Brooklyn District Attorney’s Office, the New York City Police Department, and the U.S. Secret Service, signaling a coordinated effort to crack down on increasingly sophisticated financial fraud schemes plaguing the city and beyond. Investigators are currently working to identify the 17 victims and assess the full extent of the damage caused by Sears and Lyles’ alleged crimes.

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