Embezzlement is a sort of property theft in which someone who has been entrusted with managing or monitoring someone else’s money or property steals it for personal gain. Embezzlement is most commonly seen in the workplace, with the majority of embezzlement cases in California involving an employee stealing monies from his company.
The fundamental feature that distinguishes embezzlement from a simple theft offense, similar to misappropriation, is that the individual accused of embezzlement must have had legal access to the stolen money or property but not legal ownership of it. Embezzlement might include enormous sums of money or tiny sums over a lengthy period of time, but the effects are the same.
Embezzlement can be charged at either the state or federal level as a white-collar crime – a term used to describe nonviolent, financially motivated crimes – depending on the specific facts of the case. In general, for federal charges to apply to an embezzlement case, the money, property, or anything else of value belonging to the federal government or one of its agencies must have been stolen. Any employee of a contractor or corporation in the private sector with a federal contract who is accused of stealing property paid for by the federal government can face federal embezzlement charges.
Federal charges of embezzlement
The state of California, like the majority of other states, has laws prohibiting embezzlement. The fraudulent appropriation of property or funds by any person to whom the property or funds have been entrusted is a crime punishable by up to six months in county jail for a misdemeanor and up to three years in state prison for a felony, according to California Penal Code 503 PC.
Embezzlement allegations, on the other hand, can result in federal prosecution, especially if the offense involves the theft of property or monies belonging to the federal government or any US agency. Hundreds of statutes cover various sorts of federal embezzlement violations under Title 18, Chapter 31 of the United States Code. The following are a few of them:
- Public money, property, or documents
- Tools and materials for the purpose of counterfeiting
- General accounting for public funds
- Unauthorized deposit of public funds by a banker
- Depositing registry funds by court personnel
- Falsely certifying complete payment by a disbursing official
- Bank officer or employee theft, embezzlement, or misapplication
- Institutions for lending, credit, and insurance
- Employee benefit plan theft or embezzlement
- Health-care-related theft or embezzlement
Embezzlement Charges: Possible Penalties
Embezzlement allegations are handled very seriously by the federal government, and if you are convicted in federal court of embezzlement, you could face a lengthy prison sentence. The consequences for a federal embezzlement allegation are determined by the criminal legislation under which the conduct was committed and the amount of money or property that the offender is accused of embezzling.
For example, if you are convicted of embezzlement of public money, property, or records and the value of the property is less than $1,000, you might face a fine of up to $100,000 or a year in jail, or both. If the property’s value exceeds $1,000, you might face a fine of up to $250,000 or a 10-year prison sentence, or both. Other criteria, such as the offender’s level of trust, the length of the alleged embezzlement, and whether the defendant has a criminal past, can all influence the harshness of the punishment imposed after conviction.
It’s crucial to remember that not all embezzlement charges are regarded the same under federal law; some are more serious and, as a result, will result in harsher penalties if convicted. Remember too that a federal criminal defense attorney can help. Contact Chambers Law Firm at 714-760-4088 for help today.
