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Understanding the basics of embezzlement

On Behalf of | Jun 23, 2021 | White Collar Crimes

White-collar crime in Florida often comes with major consequences. Embezzlement occurs when an individual uses funds entrusted to them for personal use. The embezzler holds the right to the funds, but they do not have the right to use them for unauthorized purposes.

Activities that constitute embezzlement

State and federal laws provide severe penalties for embezzlement. Punishment may include fines for lesser offenses and imprisonment for large-scale embezzlement. Employees that sell a product and pockets the money without crediting it to the company committed embezzlement. Even small amounts of just a few dollars count toward embezzlement. Grand scale embezzlement may involved schemes where assets are sold or when company money gets transferred directly into a personal account.

Embezzlement laws come into play when someone misappropriates money entrusted to them by an organization. People who embezzle can face both civil and criminal charges. Fraud and embezzlement differ since the embezzler does have the right to manage the funds for the organization. Embezzlement can result in severe organization or company losses over time. Establishing clear rules and consequences on embezzlement can discourage the pilfering of money. Institutions should also promote a culture that rewards vigilance toward illegal acts.

White-collar crimes like embezzlement are considered non-violent crimes, but the perpetrators may get sentences normally reserved for violent offenders. Making this clear to employees can help mitigate the effects of embezzlement.

Legally proving embezzlement took place

Proving embezzlement requires that the perpetrator had a legal and fiduciary responsibility to the victim. The claimant must also prove the money was used inappropriately in an intentional manner. People who are facing these charges will need to discuss their situation with an experienced attorney.