Grand Larceny by Embezzlement & Value

In New York, grand larceny is described as unlawfully taking property valued at more than $1,000 from a person or company with consent. Grand larceny also includes taking that property without the intent of returning it to the true owner. Grand larceny is separated into categories according to the value of the property or goods allegedly taken.

The state can charge you with grand larceny based on the facts of the case. However, New York can charge you with grand larceny and embezzlement according to the value of the property. If you are charged with grand larceny embezzlement, contact a lawyer immediately for legal representation.

What is Embezzlement?

Embezzlement is defined according to penal law PEN 155.05. It is defined as larceny committed by a person who is entrusted to hold onto property on behalf of the rightful owner. The rightful owner is often a client or employer. The property includes:

• Money
• Computer data
• Computer program
• Real property
• Personal property
• Evidence of contract or debt
• Goods
• Anything of value

For prosecutors to prove your guilt, they must prove grand larceny and embezzlement. Thus, they must show that you unlawfully took property valued at more than $1,000 from the alleged victim. Also, they must show that you did this without permission and with the intent to permanently deprive.

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Legal Scenario: What Would You Do?

Scenario

You work as a bookkeeper for a mid-size retail company in Manhattan, and over the past two years you transferred approximately $85,000 from the company's operating account into your personal bank account by creating fictitious vendor invoices. Your employer just confronted you with the discrepancies and told you they're going to the police.

What charges am I likely facing for embezzling $85,000 from my employer, and how serious is this?

Attorney's Answer

Based on the amount involved, you're likely facing a charge of Grand Larceny in the Second Degree under New York Penal Law § 155.40, which applies when the value of stolen property exceeds $50,000. This is a Class C felony carrying a potential sentence of up to 15 years in state prison. The fact that you had authorized access to the funds as a bookkeeper makes this a classic embezzlement case, where the prosecution will argue you used your position of trust to steal through fraudulent means. We need to act quickly — preserving any evidence of mitigating circumstances and exploring restitution options early can significantly impact how the DA's office handles your case.

This is general information only. Contact us for advice specific to your situation.

To prove embezzlement, they must show that you and the victim had a fiduciary relationship. Next, they must show you used that relationship to gain access to the victim’s property. Prosecutors also must prove you took the property without the victim’s permission.

Embezzlement Charge by Value