Fair Market Value of Loss in New York
Fair market value of loss in New York is the value of the loss in that given time and in that community. As absurd and extreme as this comparison is, it is not going to be compared to the loss from 70 years ago in Eastern Europe. It is the replacement value and the current value of that loss. If someone allegedly stole $1,000,000, the fair market value of loss is the same amount. For more information regarding this process, speak to a distinguished embezzlement attorney.
There is not really a fair market value of loss in New York for embezzlement cases. Embezzlement is the theft of dollar, not property, that does not fluctuate with use, destruction or damage. Nor does the dollar have a different value from company to company and business to business. For all intents and purposes, fair market value in an embezzlement case is the value stolen in actual dollars.Determination of Loss in Embezzlement Cases
Embezzlement generally deals with hard money as opposed to more speculative property. It is not a criminal offense that involves a home or a car, it is currency-related crime. Currency devalues as inflation. In the context of embezzlement, fair market value is not as relevant. If at all relevant in an embezzlement case, it will be because dollars are known numbers and do not have different values from person to person.Court Estimation Exclusions
Generally, courts do not exclude much in cases for fair market value of loss in New York. This means that it is not a defense to offer the difference in money the individual has taken in comparison to the money they have earned on behalf of the company. It does not work that way. Saying someone increased revenues of their company and assisted in lowering the person’s tax liabilities, does not mean the person should deduct that or reduce that from the amount that they allegedly embezzled. Larceny crimes are distinct from this type of loss – benefit analysis.Impact of Employee Performance
Someone’s position in the company or in the business that you allegedly defrauded is relevant to sentencing and could increase towards an upward departure of fair market value of loss in New York. There are a lot of different professional capacities and fiduciary responsibilities. Other relevant factors are whether this is an ongoing scheme to defraud.
The court will want to know what has been the direct and indirect impact to both the people who worked at the company and the company itself. Other related questions will come into play and have extreme adverse impacts if not prepared for by the accused and their criminal defense attorney.
Something that is also relevant and a piece of any crime of financial fraud is restitution. If you ultimately believe or agree to make the complainant whole or close to whole, courts and District Attorneys look more favorably on defendants who make full restitution or significant restitution in a timely manner.