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White collar crimes charges filed against bank employee

| Jun 17, 2019 | White Collar Crimes |

Embezzlement is the fraudulent taking of another person’s personal property or funds by a person to whom it was entrusted or from an employer. It is one of several types of white collar crimes that are committed nationwide, including Michigan, and the value of the claimed misappropriation will determine whether it will be a felony or a misdemeanor. A bank employee in another state is accused of such a crime that federal prosecutors say involves over $176,000.

The man faces a 10-count indictment that includes felony charges of identity theft, bank embezzlement and money laundering. According to the court documents, the identity theft and embezzlement charges arose from the use of the identity of an unnamed woman to embezzle the funds from Sept. 2017 through April 2018. The embezzlement allegedly occurred in five different transactions.

Those funds were allegedly then transferred into different accounts. According to prosecutors, this is where the money laundering charges come in. The accused bank employee transferred some of the embezzled funds into two different American Express accounts. These transfers allegedly occurred in four transactions between Feb. and April 2018.

Reportedly, convictions on all these charges might lead to fines exceeding $1 million and incarceration of up to 82 years. However, no conviction can take place until and unless the prosecution proves guilt in court and beyond a reasonable doubt. This is where the skills of a criminal defense attorney with experience in dealing with white collar crimes come in. Individuals in Michigan and elsewhere who are facing embezzlement charges have the right to legal counsel who can work on a defense strategy designed to achieve the best possible outcome for the client.