Have You Been Charged With A Serious Crime?

What are the penalties in New York for embezzlement?

On Behalf of | Jun 12, 2023 | Criminal Law

Embezzlement is a less common offense than other, more well-known crimes like theft and fraud. Therefore, it is understandable that if you have been accused of this crime, you might not fully understand the charge against you.

Under New York law, Embezzlement, or Grand Larceny, is a crime committed by unlawfully taking money or property from another with the intention of depriving them of it. It usually occurs during the course of an individual’s employment and a conviction can leave that individual facing serious penalties.

Penalties vary depending on the amount of money involved

In New York, the penalty you may face for an Embezzlement charge will depend on how much money (or property value) was stolen. The higher the value, the more serious the penalty.

Embezzlement with a value of $1,000 or more is a felony offense categorized from Class E to B and is graded on a scale from First Degree to Fourth Degree Grand Larceny under New York law.

The penalties are as follows:

  • Fourth Degree Grand Larceny – $1,000 – $3,000 – is considered a “Class E” Felony with a possible prison sentence of up to four years
  • Third Degree Grand Larceny – $3,000 – $50,000 – is a “Class D” Felony with a maximum of seven years in prison
  • Second Degree Grand Larceny – $50,000 – $1,000,000 – is a “Class C” Felony with a potential prison sentence of up to 15 years
  • First Degree Grand Larceny – $1,000,000 or more – is a “Class B” Felony with a maximum prison sentence of 25 years

Having experienced legal representation is important when facing an Embezzlement charge. It can give you the best opportunity to both defend the charge against you and to mitigate sentencing impacts in the event of a conviction.