Embezzlement is a white-collar crime involving the misappropriation or theft of funds entrusted to an individual or organization.
It can occur in various settings, such as businesses, nonprofits, and government agencies.
At the federal level, embezzlement charges are governed by statutes like 18 U.S.C. § 641 (embezzlement of public money, property, or records) and 18 U.S.C. § 656 (embezzlement by a bank officer or employee).
These laws encompass a wide range of activities, including diverting company funds for personal use, misusing client funds, and stealing government property.
Penalties for embezzlement vary depending on the nature of the offense and the amount involved.
Embezzlement Investigation Process
Embezzlement investigations are typically conducted by federal agencies such as the Federal Bureau of Investigation (FBI), the Internal Revenue Service (IRS), and the Securities and Exchange Commission (SEC).
The investigation process may involve:
- Examining financial records, bank statements, and other documents to uncover evidence of embezzlement.
- Interviewing witnesses, suspects, and other relevant parties to gather information.
- Employing forensic accounting techniques to trace the flow of embezzled funds and identify discrepancies in financial records.
Those facing embezzlement charges should consult experienced legal counsel to navigate the complexities of the investigation process and protect their rights.
Sentencing for Embezzlement
Sentencing for embezzlement offenses is determined using the U.S. Sentencing Guidelines, which consider factors such as the nature of the offense, the amount embezzled, and the defendant’s criminal history.
Penalties for embezzlement can be severe, including imprisonment, fines, restitution, and forfeiture of any gains obtained through embezzlement.
For example, under 18 U.S.C. § 641, the maximum prison sentence for embezzlement of public money or property is 10 years if the value of the embezzled property exceeds $1,000, and fines can be up to $250,000.
Dealing with embezzlement charges can be an overwhelming experience. Wall Street Prison Consultants can help defendants understand the legal process, the potential consequences of going to trial versus taking a plea, and guide them in making informed decisions.
Their expertise can assist with preparing for sentencing hearings, exploring early release options or sentence reductions, and ensuring the best possible outcome in their embezzlement case.