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Understanding embezzlement charges

On Behalf of | Jul 1, 2024 | White-collar crimes

If you are facing embezzlement charges, you may be experiencing mixed emotions and concerns. Understanding the nature of these charges and the potential consequences can help you prepare for the challenges ahead.

The weight of embezzlement accusations

Embezzlement is a form of financial fraud. It involves the misappropriation of funds entrusted to you for personal gain. The charges suggest a breach of trust. It can hurt your career, personal relationships and financial stability.

Penalties for embezzlement

Under Texas law, the penalties for embezzlement may depend on the value of the misappropriated funds, as outlined below:

  • Individuals may face misdemeanor charges for embezzling amounts less than $1,500. These charges can potentially result in jail time not exceeding 12 months.
  • When the value ranges from $1,500 to $20,000, the offense escalates to a felony. This may come with possible imprisonment for up to 24 months in a local correctional facility.
  • Cases involving $20,000 to $100,000 typically lead to third-degree felony charges. This may carry potential prison sentences of two to 10 years.
  • Accused individuals may face second-degree felony charges for amounts between $100,000 and $200,000. These charges may result in a potential imprisonment of two to 20 years.
  • When the embezzled sum exceeds $200,000, it may be a first-degree felony. Convictions at this level can result in lengthy prison terms, potentially up to 99 years.

Embezzlement charges on a federal level also depend on the total value of the property stolen. For thefts of less than $1,000, people convicted will face up to one year in federal prison. For theft of more than $1,000, you may face imprisonment for up to a decade.

Understanding the potential consequences

The consequences of an embezzlement charge can be severe.

An embezzlement charge can damage your reputation. This can make securing future business deals challenging. It may also be difficult to maintain professional relationships. It also jeopardizes the trust you have built over the years in your industry.

Moreover, the stress of facing these charges can take a toll on your mental health and personal relationships. You may find yourself isolated. You may also struggle to maintain relationships with friends and family.

Lastly, legal proceedings can be costly. You may face financial challenges due to the accusations, regardless of their validity.

If you face embezzlement charges, an experienced attorney can help you understand your rights and legal options.