What is Corporate Embezzlement?
What is Corporate Embezzlement?
Corporate embezzlement is a kind of financial fraud that often involves employees who have been wrongfully appropriating funds that have been entrusted to them, but which are owned by the corporation. Because intensive security measures are put in place in the corporate world, corporate embezzlement is a premeditated and methodical criminal action with the intent of concealing the activities from the corporation. In order for a person to successfully embezzle funds, he or she must be a trusted member of the business. This person must also embezzle only a fraction of the funds in their charge. If done properly and undetected, over time the embezzler could continue with unlawful gains without ever being noticed.
Is Corporate embezzlement a misdemeanor or felony?
When executives, directors, board members or trusted employees of a business engage in malicious acts like that of corporate embezzlement, the integrity and financial health of the businesses is compromised. Depending on the severity of the crime (length of time, amount of funds misappropriated, employees involved), embezzlement may qualify as a misdemeanor or a felony. In some cases, criminal defense lawyers are able to reduce the sentences despite the wealth of evidence against the embezzler.
Defense Against Embezzlement Accusations
If you have been accused of diverting company funds for personal use it is essential to your case that you consult with a skilled phoenix criminal defense lawyer to discuss your legal options. A skilled criminal attorney can negotiate with the prosecution and prove that they do not have sufficient evidence, or that the alleged embezzler has been wrongfully accused. Failure to prove one’s innocence has serious penalties. Felony convictions in grand theft cases (crimes over $400) result in a county jail prison sentence with fines exceeding thousands of dollars. Additionally, the convicted person must pay back all the funds to the victim.
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