Embezzlement’s Legal Definition in Syracuse
The concept of embezzlement itself involves the theft of property from another party that entrusted the property with the thief. In other words, embezzlement occurs whenever a person who has a duty to protect property placed in their care takes that property for their own use.
This definition means that embezzlement could involve both money and physical property. Therefore, an employee who takes $50 out of a deposit bag sent to a bank is just as guilty of embezzlement as an employee who takes a company car for a joyride and never returns it.
Potential Consequences for Conviction
Like all larceny crimes, embezzlement is punished according to the value of the items stolen. Any theft of some combination of property worth under $1,000 is considered petit larceny, a class A misdemeanor under NYPL §155.25. If the value of items stolen exceeds $1,000, though, the charge may be upgraded to a felony and should be immediatly addressed with a Syracuse embezzlement attorney.
NYPL §§155.30 through 155.42 define grand larceny in the fourth degree up to the first degree, with the latter being the most severe charge. A theft of items worth between $1,000 and $3,000 could be charged as fourth-degree grand larceny, while third-degree grand larceny involves a total monetary value of between $3,000 and $50,000. Between $50,000 and $1 million in property stolen denotes a potential second-degree grand larceny charge, and any theft of over $1 million qualifies as first-degree grand larceny.
Respectively, these charges are felonies of classes E, D, C, and B, and no matter the category of charge, a conviction could result in a jail sentence of a year or more. Courts are more likely to sentence a guilty party to a jail term in cases involving embezzlement, due to the violation of the owner’s trust that the defendant’s taking of property entailed.