Embezzlement is a rather big and not very commonly heard term; for a basic understanding of the term, it could be said whose meaning is as close as felony. It refers to the act of stealing money by an individual from a place in which he is given responsibility to take care of. To make it easier to understand, an example of a banker can be cited.
A banker is responsible for handling public cash and when he steals this money, either little by little or a big lump sum, he could be charged with the crime of embezzlement. The primary reason for this being a crime is that there is immense trust of the general masses attached to these people in charge. It is hence considered to be a punishable offense.
Steven Sorensen Embezzlement is a CPA by profession who focuses on Embezzlement, has considerable knowledge of the subject and is an adept at understanding the signs. Being aware of the signs makes it easier for one to prevent this crime from taking place and safeguarding the hard earned money of the masses at large.
His blog clearly states that if an employee happens to stay back longer than his co-workers with the excuse of completing his work, there are possibilities of him/her being involved in such a crime. Among other signs that could give an indication to the commitment of this crime are when an employee volunteers for extra duties, and if the employee does not take any vacation or even leave. There is a fine line between understanding who is really a proactive employee and who is an employee with wrong intentions.
The fines for the crime of embezzlement vary from state to state, as Steven Sorensen Embezzlement , will be able to explain. One basic thing which determines the kind of punishment a person doing embezzlement is entitled to is the amount of money that has been embezzled. Normally, they do not exceed $500,000, or twice the amount that is stolen; this means that in case anyone has embezzled $400 he will have to repay $800 on being caught.
Along with the fines there are certain penalties as well that are sentenced to the criminal; for instance a person could be sentenced to 10 years of imprisonment after paying the fine, but that again depends on the place of the crime. There are however exceptional cases where the offender is forfeited of both the punishments. But for that to happen, the offender has to be a first time offender and he has to be able to pay back the entire embezzled amount immediately.
Breaking of trust is a serious offense under any circumstance and this happens to be a financial scenario, it is hence that the legal repercussions tend to be so harsh. But, again it is the state where the crime has been given fulfillment that determines how harsh or generous the punishment of the criminal is going to be.