Many types of theft involve someone illegally obtaining something that they were never supposed to have possession of to begin with. This could include a home robbery, for example, or shoplifting from the local mall. It could also include high-tech computer crimes, such as hacking into a bank account and transferring funds into another account. In all of these cases, access to those funds or products was never granted by the party that owned them.
This is where a white collar crime like embezzlement is a bit different. The initial access often is approved, but the person who is granted that access then misappropriates those assets in an illegal fashion, often for their own gain or benefit.
Rerouting company assets
For instance, certain executives at a corporation may be given access to that company’s bank account. They are supposed to use the funds to make purchases on the company’s behalf, perhaps paying independent contractors or purchasing supplies and materials.
In other words, just accessing the funds itself is not illegal. The person is well within their rights to do so. When it becomes embezzlement is if they start to use that money for their own gain.
Say that an executive writes fraudulent checks for purchases that were never made and then cashes those checks and keeps the money. Or say that they are supposed to redirect funds to other company bank accounts, but they direct a portion of those funds to their personal bank account. Both of these are examples of embezzlement, which is a type of theft, but it is important to note the distinctions from more traditional forms.
Legal defense options
Have you been accused of embezzlement or other white collar crimes of a financial nature? If so, it is critical that you understand what legal defense options you have.