FOLLOW US :
212-300-5196

White Glove Service. Excellent Results. Strong Reputation.

Read Our Reviews

NYC Embezzlement Lawyers

January 2, 2020 Federal Criminal Attorneys

Embezzlement is one of the most common types of white collar crime committed on both a state and federal level. Both state and federal courts can prosecute embezzlement charges, and the type of court involved will vary depending on the circumstances. To be charged with embezzlement, you must have allegedly taken property or money from a financial entity you were responsible for. You must also have done this without permission.

There are criminal defense attorneys who specialize in defending people accused of white collar crime. They often see people accused of embezzlement when they are trusted with handling finances for a business, organization, or industry. The crime occurs when an individual is able to access the finances of another person, organization, or business. They are supposed to manage, monitor, or use the money responsibly to benefit the party who owns it. However, the control over the finances can cross into criminal territory.

You might be surprised by the number of different ways there are to embezzle money. Some of the most common are filing false records, fraudulently billing people, and engaging in “Ponzi” schemes. But even with all of these potential temptations, many innocent people are accused of embezzlement despite having done nothing wrong. Sometimes the person isn’t accused of embezzling money. They might be accused of stealing virtual documents, files, or trade secrets.

When it comes to the theft of trade secrets and virtual documents, some of the most likely people to be accused are employees, bank tellers, clerks, accountants, lawyers, supervisors, and company owners. Regardless of whether you’re charged through a state or federal court, embezzlement charges can be very serious. Depending on the degree of the crime, you may be looking at multiple years in prison and hundreds of thousands of dollars in fines.

When embezzlement cases are prosecuted in federal court, they typically fit into one of four subtypes: bank fraud, securities fraud, wire fraud, or mail fraud. In addition, most states have specific embezzlement statutes encoded into their laws.

In federal court and in most state courts, embezzlement encompasses four key elements:

  • A fiduciary relationship or position of trust or responsibility has been established between the two involved parties
  • The property or money was acquired by the defendant while they were in the position of trust
  • The property or money was taken for the benefit of the defendant or the benefit of someone who isn’t the other party
  • The defendant engaged in these actions intentionally, which means they consciously aimed to violate their position of trust by stealing the money

Fiduciary Relationships and Positions of Trust

This all seems fairly straightforward, but a fiduciary relationship and position of trust needs to be defined. There are no specific definitions for these terms put down in federal criminal law. However, federal sentencing guidelines address them. According to these guidelines, the terms can be used to describe anyone who uses managerial or professional discretion in handling of money. The person will usually have a good deal of freedom with how they use the money they’re responsible for, and they will undergo less rigorous supervision than non-responsible parties.

There’s also an insider trading law that applies to embezzlement. One important thing to note is that “insiders” don’t have to work for the company in question when the company’s security is traded. To be an “insider,” all you need is insider knowledge that would affect securities trading but isn’t public knowledge. If you hear non-public information that would affect a company’s stock or securities value, you cannot use that information for financial gain. A person is considered to have a fiduciary duty as soon as they have insider information.

In terms of other outlined fraud crimes, a perpetrator can be any individual who has been entrusted with the money of another person. This doesn’t always have to be a corporate executive. It can be a toll collector, hotel clerk, or bank teller.

Embezzlement Penalties

Many states have embezzlement statutes that have different criminal definitions. Federal law doesn’t have a specific embezzlement crime, so a person will be tried based on one of the four subtypes of embezzlement-related fraud. If you are convicted of bank, securities, wire, or mail fraud in federal court, the sentence could be up to twenty years in prison accompanied by a $250,000 fine.

Regardless of the stage of an embezzlement investigation, it’s vital that you get in contact with an attorney. Maybe you’ve been contacted by an agent looking for information. Maybe you’ve been arrested or had charges pressed against you. You should never talk to law enforcement without legal representation, especially if you haven’t done anything wrong. The police and federal agents are not on your side, and a skilled lawyer can help.

[pagelist child_of=”parent” class=”page-list-cols-3″]

FREE CONSULTATION

Testimonials

Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them enough.

~ David Bruce

Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet.

~ Rowlin Garcia

Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind.

~ Francis Anim

Spodek Law Group

White Glove Service

We provide superior service, excellent results, at a level superior to other criminal defense law firms. Regardless of where your case is, nationwide, we can help you.

Get In Touch

Schedule Your Consultation

Los Angeles

555 W 5th St 35th floor, Los Angeles, CA 90013

212-300-5196



get directions

Queens

35-37 36th St, 2nd Floor Astoria, NY 11106

212-300-5196



get directions

NYC

85 Broad St 30th Floor, New York, NY 10004

212-300-5196



get directions

Brooklyn

195 Montague St., 14th Floor, Brooklyn, NY 11201

212-300-5196



get directions

Call Us