Embezzlement 101
Embezzlement is the theft or misappropriation of funds placed in one’s trust or belonging to one’s employer. Embezzlers are usually very methodical in their approach to this premeditated theft.
There are different levels of embezzlement – “skimming the top” which is, essentially, taking funds slowly over a period of time so it not only accumulates but also reduces the chances of getting caught.
Other occurrences involve large amounts of money being underreported to one’s supervisor and then the embezzler pockets the rest.
Often, regular people can enter the gateway of this crime by justifying their actions and thinking “I’ll just borrow a little bit and then pay it back”. Upon getting away with the ‘borrowed’ money, the perpetrator will sometimes feel comfortable taking a ‘little here and a little there’ until the amount becomes so tantamount that it’s impossible to pay back without confessing to the theft. According to California law, any amount of stolen money over $950 is considered grand theft. (Ca. Penal Code § 514.)
Interestingly enough, two-thirds of those charged with embezzlement are females. Along with a criminal sentence, a judge will often require the offender to pay restitution – meaning that they will need to pay back the full amount of the money which was stolen from the employer. According to CFO.com, there are 5 areas where embezzlement commonly occurs:
- Information systems & critical data
- Sales & receivables
- Payroll
- Corporate credit cards
- Employee Purchase Orders
Bradley Corbett
Bradley Corbett is a criminal defense attorney in San Diego. He graduated from Brigham Young University in Provo Utah in 2004. Later he enrolled at Thomas Jefferson School of Law in San Diego where he participated in a prestigious internship program with the Los Angeles County Public Defender. Since then he has handled over 2,000 cases.