Serious Cases Need Serious Lawyers

What are the potential penalties for embezzlement?

On Behalf of | Mar 29, 2022 | White Collar Crimes

The goal of for-profit businesses in Texas is to make money. Some companies sell products, others sell services, but all businesses need employees who create invoices, send them out and then actually collect the money which could be in the form of cards, wire transfers, checks or cash.

The employees responsible for handling the money are given a lot of responsibility and may have access to large sums of money that the company earns. Employers may not keep a close eye on the finances as long as the bills are being paid each month. There are situations when the employees responsible for collecting money and sending invoices can take a little for themselves.

This is known as embezzlement and it is a form of theft. It can also go on for a long period of time and during that time the amount taken can add up. Like with any other type of theft people accused of embezzlement could be charged with a crime and potentially face serious consequences as a result.

The severity of the consequences depends on the amount stolen though. Any amount taken over $2,500 is a felony of varying degrees. For all degrees of felonies people could be fined up to $10,000, but the potential jail sentences vary based on the amount of money taken.

  • Between $2,500 and $30,000 it is a state felony, which could result in jail time between six months and two years.
  • Between $30,000 and $150,000 it is a third degree felony, which could result in a jail sentence between two and 10 years.
  • between $150,000 and $300,000 then it is a second degree felony and the jail sentence could be between two and 20 years.
  • Any amount over $300,000 is a first degree felony and people could be sentenced to jail between five and 99 years.

Being charged with embezzlement in Texas is a serious offense, but people must be convicted before people can be sentenced to jail or be fined. Experienced attorneys understand people’s rights after being charged with crimes and may be able to help protect them.