Embezzlement is a White Collar federal crime where an individual acquires money or property through trusted access and appropriates it for themselves. In this way, the individual takes advantage of their position of trust.
For example, embezzlement can be borrowing money from a bank register where you work, transferring a customer’s money into your own personal account, and taking property for personal use.
If you’re under investigation for Embezzlement and facing Federal Charges and Prison, contact us now so we help you pre-qualify for early release programs authorized by the Federal Bureau of Prisons.
Often, this is someone in a white-collar profession, such as an accountant or tax consultant. It is important to remember that embezzlement is different from fraud.
The individual has had legal permission and access to the money or property due to being in a trusted position. There is the intention and this crime usually happens when an individual is unsupervised.
Theft by or misappropriation by a bank officer or employee could constitute a crime under this statute!
There are state laws in place for embezzlement that means it would be the state investigating the crime. But it becomes a federal crime when it involves a United States government agency or violates a federal law like wire fraud or bank fraud.
There are other situations the crime may fall under federal laws on such as involving money from United States taxpayers.
As a serious federal crime, embezzlement can be investigated by the Federal Bureau of Investigation (FBI) and the Financial Fraud Enforcement Task Force. If the defendant is charged with embezzlement their case will be taken to court for prosecution.
The penalties for embezzlement can be severe and will be different depending on the individual facts of the case. A charge of embezzlement can only be brought under state or federal law; it cannot be both.
There are different penalties depending upon the facts of a person’s case. Often, the type or amount of money and property stolen will be considered.
If the money or property is worth more than $1000, an individual can expect to receive a fine of $250,000. This can also include a prison sentence of up to 10 years. If the money or property is less than $1000, an individual can receive a fine of up to $100,000.
In addition, there can be a prison sentence issued. Organizations that are involved with federal embezzlement can face more severe fines for their actions. This can include fines of up to $500,000 or twice the amount of money that was gained. If the crime is found to be a misdemeanor, then the fine will be up to $200,000.