The white collar crime of embezzlement, also commonly referred to as employee theft, is a workplace theft crime that can be charged as either a felony or misdemeanor. The consequences of an embezzlement conviction are far reaching as they extend beyond the criminal punishments. An embezzlement conviction and the resulting criminal record can jeopardize future employment prospects, citizenship, and professional licensing.
If you have been arrested or suspect you may be investigated for an embezzlement, contact our Los Angeles embezzlement attorneys immediately for a free confidential case review. Criminal defense lawyers, Paul Takakjian and Steve Sitkoff are former senior prosecutors with the LA County District Attorney's Office with a combined 70 years of criminal law experience in Los Angeles County. Whether we are preparing a case for trial or negotiating a plea agreement, our extensive expertise in the area of white collar crime defense ensures our clients of the best possible case outcomes.
California Penal Code 503 | EMBEZZLEMENT
Embezzlement is categorized as a white collar theft crime because it involves the unlawful taking or theft of property entrusted to someone by another. As a "wobbler" offense, embezzlement can range in seriousness from either a felony or misdemeanor crime with the determination based on variables such as your prior criminal history and the amount of the theft. The penalties and range of sentencing for an embezzlement conviction can also vary depending on whether your prior history of theft-related offenses and whether you are convicted of a felony or misdemeanor. A Los Angeles felony embezzlement conviction carries up to 3 years in prison, while a misdemeanor embezzlement carries up to 1 year in county jail.
Embezzlement vs. Theft vs. Fraud
Theft (aka larceny) is a general term defined as stealing another person’s property without intent of returning the object in question. Common crimes categorized as theft include shoplifting, pickpocketing, and automobile theft.
Theft can be divided into two categories:
“Petty theft,” (PC 488) which is anything under $950 in the state of California. The punishment for petty theft is up to six months in a county jail with fines up to $1000.
The next level is “grand theft” (PC 487), which is theft of over $950 in property. With misdemeanor grand theft, one can face up to 364 days in a county jail with a maximum $1000 fine. On the other hand, the penalty of felony grand theft convictions is up to 3 years in jail, plus a maximum of $10,000 in fines.
Embezzlement is a subcategory of theft that occurs strictly in business relations, where an employee transfers the employer’s funds or property for personal use. And depending on the amount of money involved, the consequences can be extremely dire. There is also a “breach of trust” involved, meaning that the business or business partner has entrusted an individual with property or assets that they have taken as their own.
Arguably one of the most insidious versions of theft, fraud occurs when someone tricks an individual into giving away their money under false pretenses. The rise in technology over the last few decades has resulted in even more occurrences of fraud as e-mail campaigns have become the most lucrative vehicle for fraud crimes. Personal data like Social Security Numbers and bank information are swept up by cybercriminals every day, sometimes without the victim’s notice until it’s too late.
Embezzlement vs. Theft vs. Fraud
Theft (aka larceny) is a general term defined as stealing another person’s property without intent of returning the object in question. Common crimes categorized as theft include shoplifting, pickpocketing, and automobile theft.
Theft can be divided into two categories:
“Petty theft,” (PC 488) which is anything under $950 in the state of California. The punishment for petty theft is up to six months in a county jail with fines up to $1000.
The next level is “grand theft” (PC 487), which is theft of over $950 in property. With misdemeanor grand theft, one can face up to 364 days in a county jail with a maximum $1000 fine. On the other hand, the penalty of felony grand theft convictions is up to 3 years in jail, plus a maximum of $10,000 in fines.
Embezzlement is a subcategory of theft that occurs strictly in business relations, where an employee transfers the employer’s funds or property for personal use. And depending on the amount of money involved, the consequences can be extremely dire. There is also a “breach of trust” involved, meaning that the business or business partner has entrusted an individual with property or assets that they have taken as their own.
Arguably one of the most insidious versions of theft, fraud occurs when someone tricks an individual into giving away their money under false pretenses. The rise in technology over the last few decades has resulted in even more occurrences of fraud as e-mail campaigns have become the most lucrative vehicle for fraud crimes. Personal data like Social Security Numbers and bank information are swept up by cybercriminals every day, sometimes without the victim’s notice until it’s too late.
Contact Our Embezzlement Defense Attorneys Today
The best legal defense is a proactive one. Most embezzlement cases begin with an investigation conducted internally by the employer followed by a police investigation. Therefore, most people charged with embezzlement are typically made aware of their status as a suspect long before prosecutors formally file their criminal complaint with the court. This "prefile" investigative period represents the best opportunity to resolve your case without further criminal action through negotiations with authorities or victims on a restitution agreement.
The defense lawyers at Takakjian & Sitkoff, LLP practice criminal defense law exclusively, and have done so since 1987. Call us today at (866) 430-8383 for a free case analysis. Consultations can be conducted by phone or in-person at our Los Angeles office.