Embezzlement, or misappropriation, is a crime of property theft. This offense involved an individual in a position of trust (such as an employee) who steals money or property that was entrusted to them to manage or monitor. The defendant does not have ownership of this property, to taking it for themselves is a crime of embezzlement.
What is the difference between embezzlement and theft?
Although embezzlement is a type of theft, there are distinctions between the two crimes. The crime of theft is the intentional taking of someone else’s property without consent with the specific intent to permanently deprive the other of the possession. Embezzlement often involves an employee or representative of a company who funnels money through the company for his or her personal gain. This involves taking funds that were intended for one purpose (such as payment for goods or services) and pocketing them or funneling them to a purpose that the payer did not intend. The main difference between the two crimes is that in embezzlement, the employee is usually entrusted with the property by the employer.
What are some examples of embezzlement?
- Skimming or under reporting money to a company and pocketing the difference
- Creating payroll accounts for fake or phantom employees
- Ponzi schemes involving fraudulent investments
- Corporate Kiting
The penalties of embezzlement can be harsh, but if you are arrested and charged with embezzlement, it doesn’t mean that you’ll be convicted. Many who are charged are either falsely accused or part of a misunderstanding. If you or a loved one has been arrested for embezzlement in Florida, it is imperative you contact my office. Hiring an experienced embezzlement attorney is the best way to ensure you keep your freedom.