New York Embezzlement Penalties

When it comes to embezzlement, the dollar amount is significant, so the penalties can include long-term incarceration. The prosecutors are inclined to ask for specific amounts of bail with these crimes because the DAs office does not want the person to use that money for their own gain. They want to make sure that the person is in custody and not abusing or getting rid of that money.

Because the penalties associated with an embezzlement charge in New York are severe, it is important to consult with a knowledgeable attorney as soon as possible. An experienced theft attorney in New York City can mount a defense to help lessen or dismiss any potential consequences associated with the charge.

Surety Hearing

The prosecutors may ask the judge for a surety hearing to determine whether the money used for bail was the money that had been stolen. For instance, if an individual posts bail at $50,000 or $100,000, the prosecutor may ask for 72 hours to review the source of that money.

If the money used was the same money that was stolen, a person should not be able to use that money to get out of jail, that person should not be able to use that money to get out of jail. A person may be placed in custody on Riker’s Island in New York City or West Chester County jail in Valhalla until the person’s case plan plays out.

Severity of the Consequences

The more money that is alleged to have been stolen in an embezzlement case increases the likelihood of a long-term prison sentence. Just like any other theft crime, the person’s ability to maintain their livelihood is going to be compromised significantly, even if the person is incarcerated in the long term or gets a lesser plea.

This is because the nature of the offense will be indelible. The crime does not go away, it does not get filed, and it does not get expunged. Further, there is always the risk that the local media could report on such crimes, harming the person’s reputation. The penalties associated with an embezzlement charge in New York City depend on the nature of the crime.

Aggravating Factors

The amount of money allegedly embezzled is one factor that will be taken into account. For example, over $1,000.00 is a Class E felony, over $3,000.00 is a Class D felony, over $50,000.00 is a Class C felony, and over a million is a Class B felony. 

Law enforcement will also want to know if the person has any history of doing anything related just as fraud or theft and how many times the person allegedly committed these acts. Depending on the various factors involved, the DA’s offices may be a lot more inclined to hammer the person. 

These are all things that would be considered when a DA and a judge examine bail and what type of offer, if any, is going to be made to keep the person out of prison.

Common Misconceptions

There are a few common misconceptions associated with embezzlement charges in New York. The first is thinking that the company that the individual has stolen from is big enough to take and absorb the damage. Sometimes that may be the case, but other times, an embezzlement crime can seriously harm a business. Insurance may not cover anything.

An individual should not think that because it is a white-collar crime, the person will only receive a slap on the wrist. There are special investigators within the DA's office that solely investigate these types of crimes.

There is a prosecutor whose sole job is to investigate fraud and embezzlement offenses. These prosecutors can spend the time and energy in making sure that they do a thorough job and hold the accused to get a criminal conviction. This conviction can then result in quite severe penalties, cementing the need for an experienced attorney.

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