WORD of the DAY - EMBEZZLEMENT Read it partner Embezzlement is a kind of property theft. It occurs when a defendant, who was entrusted to manage or monitor someone else’s money or property, steals all or part of that money or property for the defendant’s personal gain. The key is that the defendant had legal access to another’s money or property, but not legal ownership of it. Taking the money or property for the defendant’s own gain is stealing; when combined with the fact that this stealing was also a violation of a special position of trust, you have the unique crime of embezzlement. Felony of the second degree Defendants who embezzle property or money of the following types or amounts will be charged with a felony in the second degree: the property is valued at $20,000 or more, but less than $100,000; is cargo from a shipper’s loading platform valued at less than $50,000; is emergency medical equipment or law enforcement equipment valued at $300 or more; or is any property listed under “Felony of the third degree” (below), when stolen because of and during a state of emergency declared by the Governor. Defendants who coordinate with one or more other people for the purposes of embezzling money or property with a value of more than $3,000 will also be charged with a felony in the second degree. Penalties include a fine of up to $10,000, up to 15 years in prison, or both.
Posted on: Sun, 04 Jan 2015 15:33:44 +0000