The Embezzlement Act covers laws and procedures for embezzlement, which occurs when someone with legal access to an asset steals it. The act determines what is considered embezzlement and the legal procedures for dealing with it. Embezzlement laws cover theft where the thief has a legal right to the asset. Punishments can include fines or prison sentences.
The Embezzlement Act covers the laws and procedures relating to the crime of embezzlement. Embezzlement occurs when a person in legal possession of an asset steals it. For example, if an accountant who has been granted legal access to a client’s money steals some of it, this can be considered embezzlement. The Embezzlement Act determines which acts are considered embezzlement and covers the legal procedures for dealing with it.
In most jurisdictions, the embezzlement law covers a specific type of theft. When a person embezzles, they steal from a person, business, or entity. In such a case, however, the person committing the embezzlement has a legal right to be in possession of the money or property that he has stolen. Instead of handling money or property the way it is expected of him, he takes fraudulent control of it for his own purposes. For example, a salesman may collect money for his employer, which means that he has a legal right to own the money. He can then appropriate it by keeping all or part of the money for his own purposes or by transferring it to another party, without his employer’s knowledge or permission.
In many jurisdictions, an accused embezzler will face criminal charges. In such a case, however, the injured party may have to prove that the defendant has committed embezzlement. To be convicted of embezzlement in many jurisdictions, the defendant must have been entrusted with the injured party’s money or property. Likewise, the defendant must have had access to money or property because of the relationship he had with the injured party. Furthermore, the defendant must have used or transferred the money or property either intentionally or fraudulently.
The Embezzlement Act covers cases of all sizes and levels of severity. For example, an embezzlement case may involve an employee who embezzled millions of dollars from a company. However, some cases involve small amounts of money. For example, a small-scale embezzlement case may involve a waitress withholding the money a restaurant customer pays for her meal and claiming that the customer left the restaurant without paying.
A jurisdiction’s embezzlement laws also dictate how a person can be punished for embezzlement. Often, an embezzler receives a fine equal to or greater than the amount of money he embezzled. Sometimes, however, a person guilty of embezzlement also faces a prison sentence.
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