Embezzlement is defined as the misappropriation of funds that have been entrusted to one’s care. It’s a type of financial crime that can be committed by anyone who has access to another person’s or organization’s financial information and resources. Embezzlement can occur in both New Jersey’s public and private sectors, and it can be perpetrated by employees, corporate executives, elected officials and even volunteers.
Types of embezzlement
There are many different types of embezzlement because there are numerous ways in which one can misappropriate funds that have been entrusted to their care. Some common methods people use to commit this financial crime include creating false invoices or receipts, making unauthorized withdrawals from accounts, using company credit cards for personal expenses and pocketing cash payments. In some cases, those who are accused of embezzlement may have allegedly used their positions of power to convince others to invest in fraudulent schemes or give them loans that will never be repaid.
In order to be convicted of embezzlement, the prosecution must prove that the defendant knowingly and intentionally misappropriated funds that were entrusted to their care. This can be accomplished through direct or circumstantial evidence. Direct evidence may include eyewitness testimony, confessions or incriminating statements made by the defendant. Circumstantial evidence may include things like financial records or documentation showing a pattern of suspicious activity.
Embezzlement and theft statutes
Embezzlement crimes in New Jersey are covered under New Jersey’s general theft statute and are generally considered white-collar crimes. If you’re found guilty, the punishment will most likely depend on the value of the stolen property. Embezzlement that concerns large amounts of money or extremely valuable goods may result in longer jail times and higher fines.
Being accused of embezzlement can have severe consequences. Those convicted may face significant fines and prison time in addition to having a criminal record.