What You Need to Know About the Crime of Embezzlement in Texas

 Posted on May 21,2021 in Criminal Defense

White collar crimes come in various forms and can be complex to investigate. According to the Federal Bureau of Investigation (FBI), white collar crimes are characterized by typically being nonviolent crimes that involve concealment, deceit, or violations of trust. One of the most common white collar crimes committed in the U.S. is embezzlement. Embezzlement happens on both a small scale and in larger operations. You can also face both state and federal criminal charges for a single embezzlement crime if you violated both state and federal laws. An embezzlement charge can quickly become serious. Anyone facing any type of white collar criminal charge should seek representation from a Texas white collar criminal defense lawyer. 

Texas Embezzlement Laws

In Texas, embezzlement is not a separate charge, but is charged under the state’s theft statute. This means that the severity of the charge will depend on the amount of money that was embezzled. Because of this, there is no specific definition of embezzlement that the state follows. Embezzlement typically refers to situations where a person is legally entrusted with money and they misappropriate or steal it.

In Texas, you could face charges anywhere from a Class C misdemeanor for embezzlement of funds less than $100 to a first-degree felony if the funds embezzled were valued more than $300,000. This means you could face up to life in prison, in addition to up to $10,000 in fines.

Federal Embezzlement Penalties

The federal government defines embezzlement as the fraudulent appropriation of property by a person to whom that property has been entrusted. There are various embezzlement charges on the federal level. In general, if the money embezzled is less than $1,000, you face up to one year in prison and up to $1,000 in fines. If the property embezzled is worth more than $1,000, you face up to ten years in prison and up to $10,000 in fines.

Our Austin, TX White Collar Criminal Defense Lawyers Are Here to Help

Many times, white collar crimes involve financial situations which could become complex rather quickly. If you have been charged with embezzlement or any other type of white collar crime, Morales Law Office, Attorneys at Law, PLLC, is here to help. Our skilled Midland, TX white collar criminal defense attorneys have experience defending against both state and federal charges. To schedule a free consultation with one of our team members, call our office today at 512-474-2222.

Sources:

https://www.investopedia.com/terms/e/embezzlement.asp

https://www.justice.gov/archives/jm/criminal-resource-manual-1005-embezzlement

https://uscode.house.gov/view.xhtml?path=/prelim@title18/part1/chapter31&edition=prelim

https://statutes.capitol.texas.gov/Docs/PE/htm/PE.31.htm