In California, Penal Code section 503 defines embezzlement as the fraudulent appropriation of property by a person to whom it has been entrusted. The crime of embezzlement requires the existence of a relation of trust and confidence, similar to a fiduciary relationship, between the victim and the perpetrator. It also requires conversion of trusted funds coupled with the specific intent to defraud another person. It is not a defense that the perpetrator intended to restore the property, or that the property was never applied to the embezzler’s personal use or benefit.

Essentially, embezzlement is punishable as a theft offense. The severity of the penalties depends on whether the offense amounts to either grand theft or the less serious petty theft. If the value of the real or personal property, or labor, which was fraudulently appropriated, is $950 or less, the crime will be punished as a petty theft. However, if the value of the property embezzled is worth more than $950, an individual may be sentenced for felony embezzlement up to 3 years in state prison and a maximum fine of $10,000.

If you have been accused of embezzlement, you will need an experienced criminal defense attorney to vigorously represent you. At Wallin & Klarich, we have helped people accused of this crime for over 30 years. Call us today at (888) 764-2615 or visit us at our website at www.wklaw.com/embezzlement-overview. We will be there when you call.