Types of Embezzlement in New York

The amount of money taken as part of an embezzlement charge dictates the degree of severity to which the crime is charged. Such penalties could severely impact an individual’s life in both the short and long term.

If you have been charged with any type of embezzlement in New York, it is imperative that you consult with an experienced attorney as soon as possible. A New York theft lawyer can build a case to help produce a successful outcome on behalf of their client.

If a person is stealing more than a $1,000, the crime is a fourth-degree grand larceny. Such a charge carries between one third and four years in prison. It is classified as a Class E felony.

If the amount of money exceeds $3,000, but is not greater than $50,000, the crime is a Class D felony punishable by between two and a third and seven years in prison.

However, the amount where most embezzlement crimes occur is between $50,000 and $1,000,000. To many businesses, such a loss can be crippling. To many prosecutors and judges, this dollar amount is staggering and is reflected in bail requests and sentences. Such a crime is classified as grand larceny in the second degree, and is punishable by between five and 15 years in prison.

If a person steals over $1,000,000, they will be charged with grand larceny in the first degree. This is a Class B felony, punishable by between eight and a third to 24 years in prison. This is among the most severe type of embezzlement charge in New York City.

On the other hand, a person can also be charged with possessing that stolen property as a type of embezzlement in New York. Stolen property, in the embezzlement context, is money. Even if the person does not currently have all the money in their bank account, or the embezzlement has lasted over the course of a few years, the crime will be aggregated.

The person may have committed many individual crimes, but when it comes to the actual larceny and theft, it could be aggregated. For example, if the person has six thefts of $10,000, the crime would not be charged as six Class D felonies, but instead, one Class C felony, because the person stole more than $50,000.

At the same time, there could be six counts each of forgery in the second degree, and falsifying business records in the first degree. These are class D and E felonies respectively.

That money, whether it is in cash form sitting in the person’s apartment, in their house, or whether it has been spent, the person does not need to physically have the money to be charged with the crime. The dollars are aggregated over the course of the conduct.

Another type of crime that is part of an embezzlement charge in New York City is falsifying business records in the first degree. That occurs when a person alters the records of a business, an enterprise, or if they are deleting or erasing records.

The charge could also present itself if the person fails to make an entry in the records and has the intent to commit another crime while committing such an act, like theft or larceny.

If the person is trying to conceal that they are stealing or is trying to further their theft, it is a felony. This is a first-degree falsifying business records charge, and is a Class E felony. Such a charge is punishable of between one and third to four years in prison for each altered or falsified business record.