David L. McCormick

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Embezzlement and theft

On Behalf of | Dec 8, 2021 | White Collar Crimes

In Minnesota, crimes occur often in workplaces with few to no rules and regulations about the company’s assets. Embezzlement is one of many crimes of theft that can bring severe consequences to an individual facing charges.

Common cases of embezzlement

In October 2021, a casino manager was convicted of embezzling more than $300,000 of the money that was entrusted to her. She was sentenced to eight months in a federal prison, one year of probation and repayment of the money that she embezzled, including fees, for a total of just under $315,740.

In embezzlement cases, employees may be accused of stealing money from the company’s bank account or taking cash or assets from a vault without authorization for personal gain. Another form of theft is stealing intellectual property, such as trade secrets or creative ideas, from the company’s confidential files without the owner’s permission.

White-collar crimes and punishments

Embezzling convictions and the associated penalties prove that white-collar crimes need to be taken seriously. Many crimes of fraud are prosecuted in federal courts and result in heavy sentences in federal prisons with fines that exceed thousands or millions of dollars.

How the law deals with embezzlement

Fraud is the most frequent white-collar crime that is often overlooked, underreported and underestimated. This occurs regularly in the forms of embezzlement, money laundering and identity theft. Business owners may not assume that their managers will steal from them, and employees might not believe that stealing is a serious matter. However, there is a legal consequence for a small or large-scale act of embezzlement that a person is accused of committing in their workplace.