Embezzlement is a white-collar crime that is often associated with corporate settings. However, it can occur in any context where individuals have access to someone else’s money or property.
The consequences of an embezzlement conviction are severe and multifaceted, affecting all aspects of the individual’s life.
What is embezzlement?
Embezzlement is the wrongful taking or misappropriation of funds or property to use for personal gain. Embezzlement involves a breach of trust because the person has legal access to the assets because of their job or role.
The immediate and most apparent consequence of an embezzlement conviction is the legal penalty, which is based on the value of the property or the amount of money embezzled. Penalties range between $500 and $10,000 and include jail time of 180 days to life imprisonment.
In addition to the legal ramifications, there are professional repercussions, such as losing a professional license, and challenges in finding future employment. Additionally, the effects of an embezzlement conviction extend into the individual’s personal life:
- Being convicted of embezzlement can severely tarnish an individual’s reputation, affecting personal relationships and community standing.
- Legal fees, fines and restitution payments can lead to significant financial strain. Difficulty in finding employment impacts one’s ability to support oneself and one’s family.
- The stress of legal proceedings, potential incarceration, and the aftermath of a conviction can lead to anxiety, depression, and other emotional and psychological difficulties.
Furthermore, for felony charges, individuals will lose certain civil rights, such as serving on a jury, holding public office or owning firearms. Their right to vote is reinstated after the sentence, including incarceration, probation and supervision, is completely discharged.
Considering the various legal and collateral consequences of an embezzlement conviction, having a strategic defense is crucial. For someone facing such accusations, it’s essential that they work with someone who has experience in navigating the complexities of Texas’ legal system.
