How does Binghamton Treat Allegations of Embezzlement?

The concept of larceny is defined in New York Penal Law §155.05 as the taking of any property from its owner with the intent to keep it. However, the statute also includes the traditional definition of embezzlement as an example of larceny.

Embezzlement is when a person takes property from its owner after that owner entrusted it to the alleged thief, such as when a financial advisor keeps a client’s money for themselves instead of investing it like they promised the client they would.

Levels of Embezzlement

Like larceny charges, the penalties for a conviction on embezzlement charges depend on the value of the items taken. In terms of severity and potential punishment, these crimes can range from misdemeanors to serious felonies.

Thefts Under $1,000

All thefts valued at under $1,000 are classified as Petit Larceny—a class A misdemeanor—under NYPL §155.25. Once the total value of the theft exceeds $1,000, the crime becomes a felony of class E, D, C, or B, depending on the specific value.

Grand Larceny

Grand Larceny in the Fourth Degree (NYPL §155.30) applies when the value of the items is between $1,000 and $3,000. In the same vein, NYPL §§155.35, 155.40, and 155.42 respectively criminalize third, second, and first-degree grand larceny, the maximum ranges for which are $50,000, $1 million, and anything over $1 million in the case of Grand Larceny in the First Degree.

Embezzling Physical Items

While embezzlement usually involves the theft of money, it is just as possible for someone in Binghamton to embezzle a physical item. Any item that is placed into the trust of another person has the potential to be embezzled.

However, unless the item has a religious purpose or is a motor vehicle, the value of that item is the sole determining factor of how serious a charge for larceny could be. The theft of a religious item or a motor vehicle worth at least $100 is automatically classified as felony Grand Larceny in the Fourth Degree at a minimum.

Talk to a Binghamton Embezzlement Attorney Today

Charges in New York that allege embezzlement are filed under the state’s larceny laws. However, the general concept remains the same: a person is trusted with the property of another and takes it for their own use.

Convictions on these allegations may result in strict penalties depending on the total value of the alleged theft, but a felony conviction of any type may lead to a lengthy jail sentence. Hiring a Binghamton embezzlement lawyer could help you avoid these penalties, as they could work to analyze their case, identify any potential defenses, and apply these defenses in court.

The sooner one of our experienced lawyers could get to work for you, the better chances you may have of achieving a positive outcome. Call Tully Rinckey PLLC today at (607) 722-1520 or email info@tullylegal.com to set up a consultation and get your questions answered.

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