Embezzlement is a much more serious type of theft than the subject of our previous post on shoplifting. It is the misappropriation of funds entrusted to your care but owned by someone else. It is fraud, stealing, and illegal - and requires several unique considerations for it to be deemed embezzlement versus larceny or a similar crime.
To be charged with embezzlement the accuser must be able to demonstrate that the accused - while holding a fiduciary responsibility to the accuser - willlfully and without error converted another’s property for their own use. In other words the owner’s right to the disposition and use of said property has been circumvented. Property refers to that which is tangible and intangible - but personal. Finally, one must be able to demonstrate that the accused had taken lawful possession of the property and not simply custody - temporary or otherwise - of it.
Two of the more common methods of embezzlement include falsifying account records or creating dummy accounts. A third more infamous type is the Ponzi-scheme - in the news of late thanks to the revelation of a high profile investment scam that sent the main culprit to prison (we need not mention names to make our point). Both can be safeguarded against by regular audits and other internal controls such as a separation of duties.
Embezzlement is just one of an array of what are termed ‘white collar crimes’. If convicted, punishments range from fines, to jail or prison time and most often a form of recompense. As with any type of crime let us offer two pieces of advice. First, don’t embezzle because the odds are in favor of getting caught. Second, if accused of this crime then contact a reputable attorney for legal advice.
David Breston is a Houston embezzlement defense attorney. If you are charged with Theft in Houston, Texas call David Breston at 713 224 4040.
