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What is Embezzlement?
According to California Penal Code § 503, the crime of embezzlement is defined as “the fraudulent appropriation of property by a person to whom it has been entrusted.” To explain in more detail, embezzlement is when someone is given responsibility over the assets or finances of another person and secretly uses those assets to their own benefit without the permission of the owner. This offense is most often a white collar crime committed by persons of high business standing, such as accountants and bankers who are in charge of other people’s finances.
What Are the Potential Penalties for Embezzlement in California?
Since embezzlement is essentially a theft crime, Cal. Pen. Code § 514 provides that embezzlement is to be punished in the manner prescribed for theft of property that is the same value of the amount embezzled. Also, if the offense was committed directly against the United States government, it is a felony punishable by imprisonment in a state prison. Embezzlement also ruins the offender’s chances of ever being entrusted with finances or assets again, not to mention damages their chances of promotion or of obtaining the career of their choice. If you are facing charges of embezzlement, don’t take chances.
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