Financial officers, trustees and some other agents have a fiduciary duty to act due diligently when placed in a position to oversee a client’s property (money, personal property, real estate, computer data, etc.) and not use it for their personal gain.
When an officer, trustee or agent abuses their position and takes or withholds property from its rightful owner, then they are breaching their fiduciary duty – and they may very well end up facing embezzlement charges.
The value of property stolen or withheld often determines the severity of a criminal charge for this type of theft. Some penalties may affect someone in the long and short term future. In other words, every embezzlement case is unique.
However, to better understand how an embezzlement charge could affect you, you may want to learn about the various penalty degrees. Here’s what you should know:
Class E felony
A Class E embezzlement felony is a fourth-degree grand larceny that may involve stolen or withheld property valued at more than $1,000. As a result of a conviction, you could end up incarcerated for up to four years.
Class D felony
Stolen or withheld property that’s value exceeds $3,000 is considered a Class D embezzlement felony, third-degree grand larceny. A conviction can lead to seven years of prison and fines.
Class C felony
A Class C embezzlement felony is second-degree grand larceny that typically involves stolen or withheld valuable property ranging between $50,000 and $1,000,000, which can result in 15 years of jail time and fines.
Class B felony
Finally, a first-degree grand larceny, Class B embezzlement felony is stolen or withheld property often exceeding $1,000,000 in value. This conviction may lead to 25 years of incarceration and fines.
Having a strong legal defense may help you evaluate your potential options to mitigate the fallout of an embezzlement case. There are many different avenues that may need to be explored.