When You Need a Las Vegas Embezzlement Lawyer
When someone commits a crime in Las Vegas that involves the theft of money or property, there are many different terms to describe the crime. Grand larceny and theft are two of the most popular terms. The most confusing crime is embezzlement. That is where a Las Vegas Embezzlement Lawyer can be of great assistance.
Typically, embezzlement involves employees, financial advisors, or other corporate officers. This crime involves someone who is responsible for money or property for another person or organization but then takes the asset for their own benefit. Sometimes, embezzlement charges can be so severe that one can spend their entire life in prison.
What is Embezzlement?
Embezzlement refers to a particular kind of fraud or larceny involving mishandling someone else’s assets. It is sometimes called “employee steal” or “employee fraud”. It involves one person being given fiduciary liability for a specific type of asset. This could include money, property, or any other item that has a financial value.
They will have to assume this fiduciary responsibility on behalf of another person. A financial relationship will be established in which the person will manage, monitor, and make financial decisions for another person’s benefit. If the fiduciary is responsible for the asset. Embezzlement occurs when that person expropriates the asset to benefit themself.
The crime of embezzlement is not defined by a set dollar amount. One person could take several hundred dollars and another could take several thousand dollars or more. You can also be charged with criminal fraud or civil fraud for embezzlement. One example of a criminal fraud case would be securities fraud in the form of a Ponzi scheme, where federal authorities discover that a business engaged in fraudulent investment activities. An employer could sue an employee for taking money from the company that was supposed to pay its invoices but instead was deposit in the employee’s bank account. A Las Vegas Embezzlement Lawyer can help in these circumstances.
What is considered embezzlement?
Four things are required for someone to be charged with embezzlement. A person cannot be charged with embezzlement if any of the four elements are missing.
1. Fiduciary Relationship
The person charged with embezzlement must have been responsible for managing and using company money or assets for the benefit of the company and the company or organization relied on them and trusted them.
2. Asset Acquisition Through Financial Relationships
It must be proven that the person obtained the property or money from the other party or organization only through the fiduciary relationship.
3. Transfer Or Take Over Asset Ownership
The accused must assume ownership of the property or money. Conveyance is also a way that the transfer of the asset ownership to another person could occur.
4. Fraudulent Intent
It must be proven that the actions of the person were intentional. These instances are not considered embezzlement if the person believed the other party or organization wanted the employee to use the asset for themself.
Each state has its own penalties for embezzlement. They are determined by the actions of the defendant and the asset’s value, as well as who the original owner was. A person could be subject to a more severe penalty if they take several million dollars, or if the asset is publicly owned. The person will usually have to pay fines in addition to returning the asset. They could also be sentenced to jail or probation.
Nevada: Examples of embezzlement
One example of embezzlement happened in Reno, Nevada in May of 2016. In this incident, an employee took about one million dollars from her employer used it personally. Instead of handling customer check funds and transfers, she cashed checks and used some of the money to pay back her own gambling debt. To hide her crime, she also intentionally altered financial records by omitting pages.
The employee was found guilty of embezzlement, failing to report income to the IRS, and not pay the taxes on her income. The employee was sentenced to pay restitution of the amount taken. She was also sentenced to 2 years in prison and 3 years probation.
What to do when you’re accused of the crime of embezzlement
Because embezzlement may be treated as a criminal case with serious consequences, it is always important to discuss your case with a Las Vegas Embezzlement Lawyer. To be charged with embezzlement, your circumstance must satisfy all four elements listed above. This means that it must be proven that the defendant took ownership and had fraudulent intent.
To protect your rights if you are charged with embezzlement you will need legal representation. A Las Vegas Embezzlement Lawyer will evaluate the facts and strive to prove that embezzlement wasn’t achieved due to one or more factors being missing.
Contact a Las Vegas Embezzlement Lawyer
Each case in Las Vegas, Nevada is unique and requires commitment and detailed attention to protect your rights under the law. Call us today to discuss your case in a free consultation.