Embezzlement charges are among several federal offenses that are aggressively pursued by prosecutors and federal law enforcement agents. In recent years, several high-profile white-collar crime cases have resulted in convictions that have significant periods of incarceration and required the person to pay millions of dollars in restitution to the victims.
Due to the potential consequences associated with federal embezzlement convictions, it is imperative that anyone facing embezzlement allegations, consider retaining an experienced Virginia federal embezzlement lawyer.
Defining Embezzlement
Embezzlement simply is the alleged misappropriation of funds or assets by a person who is authorized to possess those funds or assets. While closely related to theft, the fundamental difference is that a person accused of embezzling property has a right to possess that property, but is accused of abusing their employer’s trust.
In many cases, embezzlement accusations are levied against individuals who have access to their company or clients’ bank and/or investment account(s), such as stockbrokers or investment advisers.
However, sometimes low-level financial professionals such as bank tellers, accounting analysts or program directors can be accused of embezzlement. Virginia federal embezzlement attorneys have seen embezzlement allegations made against any employee who has access to a company or client’s funds or property.
Embezzlement Penalties
Similar to other crimes involving allegations of the theft of misappropriation of property, the penalties associated with federal embezzlement violations depend largely on the type and amount of property embezzled. For instance, a person accused of embezzling public funds, property, or records valued over $1,000 and who is convicted may be fined and sentenced for up to 10 years in prison.
However, those convicted of the embezzlement of property valued at less than $1,000 may face a maximum of one year in federal prison. An experienced Virginia federal embezzlement attorney could work vigorously to protect your legal rights and ensure that you receive justice.
Government Property
Federal laws against embezzlement specifically prohibit the misappropriation of federal assets. Employees commonly accused of embezzling federal funds include:
- Bank Employees
- Federal Agency Support Staff
- Federal Administrative Workers
- Government Contractors
US Code prohibits embezzlement of federal government funds and the statute enumerates specific types of conduct that are prohibited under federal law. A Virginia federal embezzlement attorney has experience building defenses against federal prosecutors, and can use that knowledge to help in cases involving allegations like:
- Embezzlement by a banker receiving unauthorized deposits of public money – A banking industry employee, who knowingly receives public money and uses it for a purpose not authorized by law, may be charged with embezzlement
- Embezzlement by an agent, officer or employee of the United States – This type of embezzlement may be charged when a person is authorized to and receives public money on behalf of the United States, allegedly fails to render their accounts for that money
- Embezzlement by a bank employee – Directors, agents or employees of Federal Reserve Banks or employees of commercial banks operating under the Federal Reserve Act may be accused of a federal crime if they are suspected of misappropriating bank funds
- Embezzlement in connection with health care benefits – Federal law prohibits the embezzlement or theft of funds, money, premiums, securities, property, credits or other assets of a health care benefit program
- Embezzlement of tools and materials used for counterfeiting – This variety of embezzlement occurs when a person takes or misappropriates the use of equipment for manufacturing postal stamps or equipment used to print US currency, bonds, certificates, other monetary notes, revenue stamps, coupons, and/or other items used to manufacture treasury instruments that are placed into circulation by the federal government.
Work With a Virginia Federal Embezzlement Attorney
There are many types of embezzlement that are prohibited under federal law, and it is important to consider retaining the services of a competent federal embezzlement attorney in Virginia. Federal criminal cases operate under a different set of rules than those filed in state court and not every lawyer has experience practicing in federal court.
Retaining a Virginia federal embezzlement lawyer may help you protect your rights and afford you as many options as possible for your defense. Reach out to our firm today to get started.
