The penalty for Blackmail under New York law depends on the value of the property turned over to the extorter and whether violence is involved. For example, Grand larceny in the Second Degree may be charged when the value of the property is more than $50,000. The penalty for “Second Degree Blackmail” is up to fifteen years in prison. The dollar value of property used to determine the penalty and punishment for a Blackmail crime in New York is based on whether the property is actually transferred to the extorter and whether it exceeds, $1,000.00, $3,000.00, $50,000.00 or $1,000,000.000. Similarly, it is also a class “C” felony with a possible fifteen year sentence if Blackmail occurs with threats to cause a physical injury to another person or to damage property regardless of the value of the transferred goods.