When someone is entrusted with caring for another person’s property or finances and end up stealing part or all of the money or property, they have committed embezzlement. In New Jersey, embezzlement charges can have severe financial consequences and will lead to several years in prison.
Definition of Embezzlement
The crime of embezzlement is defined by the law in New Jersey in two ways:
1. Embezzlement is considered theft when failing to make the required disposition of property received.
2. It is the misapplication of entrusted property and property of a government or financial institution.
If you work for a bank or as an accountant and have been accused of committing embezzlement, you need to retain criminal attorneys in Cherry Hill, NJ. Being convicted of embezzlement has severe consequences, and you will need help proving your innocence or getting the charges reduced.
Consequences of Embezzlement Convictions
The punishment for embezzlement depends on how much money and/or property was taken. If you need criminal attorneys, you should browse our site to learn more about getting the help you need. The punishments are listed below:
1. $200 or less: this can result in a fine of up to $1,000 or double the amount stolen or both.
2. $200 or more, but less than $500: the consequences for this amount could be a fine of up to $10,000 or double the amount stolen. You could also be sent to prison for 18 months.
3. $500 or more, but less than $75,000: This can result in a fine up to $15,000 or double the amount embezzled as well as two to five years in prison.
4. $75,000 or more: a fine of up to $150,000 or double the amount embezzled as well as five to 10 years in prison.
Along with stealing money, you can face embezzlement if certain property is stolen or mismanaged. It’s important to retain experienced criminal attorneys when accused of this crime.