Misappropriation of Funds Laws, Charges and Statute of Limitations
One of the most serious crimes that does not involve directly harming another individual, misappropriation of funds is punishable in all 50 states and is taken very seriously by courts. A crime that deals primarily with a person illegally and intentionally using another party’s funds for their own use, it can be committed by anyone who has responsibility for another’s assets. In many instances, misappropriation of funds charges are brought against public officials, trustees, estate executors, or others who are in charge of handling funds for individuals or organizations.
Proving Misappropriation of Funds
While this crime is punishable in all 50 states, the laws from state to state vary greatly. As a result, prosecutors may need to focus on different types of elements related to the crime depending on the case they are dealing with at that time. Yet in most cases, several key elements must be proven in order to gain a misappropriation of funds conviction. These include the property owner willingly giving the defendant control of but not ownership of the funds, the defendant having the intent to take the money and use it for their own purposes, the defendant actually using it for their own purposes, and that the defendant did at some point plan on returning the money. However, it is vital to remember that when it comes to the defendant using the money for their own purposes, this does not mean actual purchases had to be made. In fact, simply putting the money in a bank account is sufficient grounds to show the money was used for the defendant’s own purposes.
