When you’re accused of embezzlement, you may be looking at more than a slap on the wrist from your employer. Embezzlement is a serious crime, and it can come with harsh penalties. Worse, you may feel the consequences for decades after your case concludes.
But what is embezzlement in Michigan, and what do you need to know as a Michigan resident? Check out the details below to learn more about your charges and your defense options.
When you’re accused of embezzlement, you need to know what that means and how these charges differ from similar charges, like larceny or fraud.
Embezzlement is the converting of funds from an account you’re in charge of to your own accounts. For example, you may work at a bank and are in charge of some financial accounts. Because you have access to those accounts, any taking of these funds is considered embezzlement.
Embezzlement doesn’t just happen in banks. If you’re in an authority position over another person’s or company’s funds, you may be accused of embezzlement if money is missing from these funds. But the details of that authority position can impact your case. If you’re a police officer, your case may be handled differently from a custodian or trustee. Talk to your lawyer about the details of your case.
Embezzlement charges can impact your future for years to come, but the severity of those charges may depend on the amount you were accused of embezzling. For example, if you were accused of embezzling less than $200, you may be charged with a misdemeanor.
The more money you’re accused of embezzling, the more severe the penalties may be. Let’s say you’re accused of embezzling $100,000 or more. The fine alone may be up to triple the value of the amount allegedly embezzled (not to exceed $50,000). You may also face up to twenty years in prison if you’re convicted of this crime. That loss can have a major impact on your finances, your career, and your family.
But the penalties don’t stop even if you complete all parts of your sentence. You may face penalties later in life just because you have a criminal record. That record can prevent you from gaining employment in your field after you’re released from jail or prison. It can even impact your housing opportunities, limiting your options to succeed after a conviction.
Embezzlement charges can haunt you for years after a conviction if you don’t defend your case. It can be tough to prove you didn’t do it, but if you don’t try, you may face penalties lasting for years following the conviction.
At Schwartz Law Group, we have the tools to help. Your lawyer can review the details of your case and what penalties you may be facing. Once we establish these details, we can get to work on your case and protect your future. If you’re concerned about your future and you need help defending yourself, reach out to us. Call 248-930-5019, or complete the following online contact form.