You may have spent years working hard in your chosen profession and after time have seen significant occupational success. If some of your responsibilities include handling company funds, it is essential that you do so as carefully as possible. A misstep could do more than harm your company — it could lead to charges of embezzlement that threaten your personal and professional reputation and well-being.
Defining embezzlement
What is embezzlement? Embezzlement occurs when a worker obtains company assets lawfully, but then uses them for personal purposes rather than the intended company purposes. It is essentially a breach of your fiduciary duty to use company funds for their intended purposes.
For example, if you create bills and receipts for business activities that did not happen and then use company funds to pay for personal expenses, this could be considered embezzlement. Stealing from a cash register can constitute embezzlement, as could transferring thousands or even millions of dollars in company funds to a personal bank account. Embezzlement not only involves money — assets such as a company car or phone, company computers and real estate can also be appropriated unlawfully for personal use.
Prosecutors won’t back down when it comes to white collar crimes
The consequences for committing embezzlement include a significant fine along with jail time. Embezzlement is a white collar crime, but that doesn’t mean there aren’t victims. White collar crimes are considered just as serious as violent crimes and will be prosecuted accordingly. The general overview of embezzlement in this post does not provide legal advice. Attorneys in New York City won’t back down when it comes to defending those accused of embezzlement and will passionately and aggressively advocate for those charged with white collar crimes.