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Penalties for Federal Embezzlement Charges in DC

Below, a federal embezzlement attorney discusses the various penalties that come with a federal embezzlement conviction and the long term implications. To learn more call today to set up a free consultation.

Penalties Associated

The penalties associated with embezzlement convictions vary depending on the facts of the case. There are particular offenses like embezzlement by a bank employee or a bank examiner, for example, which is a violation of Title 18 Section 655 and 656. Sections 655 and 656, prohibit bank examiners or bank employees or the employees of financial institutions from converting money entrusted to the organization. Bank employees and bank examiners convicted of embezzlement under this statute can not only be disqualified from holding office at a bank in the future but they could face a maximum penalty of 30 years in prison and up to a million dollars in fines or both.

Embezzlement is a serious crime.

Long-Term Implications

A person who works in the financial industry or the bank industry convicted of embezzlement will have a tough road ahead.  Coming out of prison after a felony embezzlement conviction, the likelihood of someone in this situation getting a job in the future in that industry is slim to none. There may be specific requirements as a part of the defendant’s sentence that requires him/her to not seek employment in that particular industry again. An embezzlement conviction can also have an effect on the person’s ability to get a job in the future in any white collar field or profession, because embezzlement is considered a crime of moral turpitude.

Traditionally speaking, the law says that this type of crime speaks to the character of who you are and as a result of that persons convicted of these offenses find themselves disqualified from holding a public licenses for example, being an attorney, a registered nurse, a medical doctor, financial broker, a licensed psychiatrist, or a pharmacist, to name a few. A person with an embezzlement conviction may have a hard time sustaining or attaining a public license in these areas and especially may be disqualified from serving as a Certified Public Accountant (“CPA”). It would be difficult to continue to work in the accounting or financial services field after being convicted of embezzlement in federal court.

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