Crimes such as embezzlement are often classified among the various types of white-collar crime. FBI data suggests that white-collar crimes each year now create close to $300 billion losses nationwide. A report from the National Association of Criminal Defense Lawyers explained that white collar criminal activity is “changing and evolving” and says it is “increasingly complex.” This trend is largely attributed to continued advancements in technology and many other factors.
Defining Embezzlement in Pennsylvania
Embezzlement is a potentially serious theft offense that deprives someone of their property. It may involve unlawfully disposing of anything with value by someone who has a fiduciary relationship to the property owner. The term fiduciary is derived from a Latin term meaning “to trust.” The perpetrator may be a professional retained by an organization such as an accountant or attorney and is commonly an officer or employee of the organization.
Some Potential Examples of Embezzlement Include:
- Diverting funds from a company bank account in order to be used personally
- Creating “phony” payments to a third-party such as a contractor for products or services that were not provided
- Unauthorized personal use of a company credit card or petty cash
- Manipulating payroll data to provide unauthorized additional personal compensation
Common Statutory Offenses
Theft by unlawful taking or disposition (§3921) involves knowingly depriving or disposing of someone else’s property. This property may be something that is tangible or intangible. Property is further categorized as movable or immovable. Immovable property is in a fixed location that is unable to be moved without significantly altering or destroying it.
Misapplication of entrusted property and property of government or financial institutions (§4113) is theft committed by someone with a fiduciary relationship to the victim. Theft offenses in Pennsylvania may be graded as a felony or misdemeanor crimes based on various circumstances. One variable that determines the level of the offense is the value of the property involved.
|
Maximum Incarceration |
Maximum Fine |
||
|
First-Degree Felony |
Value exceeds $500,000 |
20 years |
$25,000 |
|
Second-Degree Felony |
Value of $100,000 and $500,000 |
10 years |
$25,000 |
|
Third-Degree Felony |
Value of $2,000 and $100,000 |
7 years |
$15,000 |
|
First-Degree Misdemeanor |
Value of $200 and $2000 |
5 years |
$10,000 |
|
Second-Degree Misdemeanor |
Value of $50 and $200 |
2 years |
$5,000 |
Determination of Value
How is the value of a property calculated or determined? The value of a property is generally the current market value. It may be calculated by determining the amount necessary for the property’s replacement. When this cannot be determined, it may be necessary to consult with a financial expert who can may an informed assessment.
White Collar Crime
Embezzlement is generally considered to be one form of “white collar” criminal activity. These offenses are typically committed for some financial benefit and are not violent in nature. Common examples include the various types of fraud such as those involving securities, real estate, taxes, credit cards, and more.
Criminal Defense Attorney for Theft Charges in Montgomery County
The LLF Law Firm Criminal Law Team has the experience necessary to effectively defend allegations of criminal activity. They will closely analyze the specific evidence and circumstances involved to formulate a comprehensive defense strategy. Contact the office today for a case consultation at 888-535-3686.