What Are the Consequences for Embezzlement in Illinois?

 Posted on June 16, 2020 in White Collar Crime

In Illinois, white-collar crimes can be accompanied by strong punishment. As such, it is important to understand what constitutes embezzlement and what kinds of charges such an act can result in. There are many different levels of embezzlement as defined by Illinois law, and there are different charges for each. Regardless of the circumstances of any criminal charge you may face, defend your rights to the fullest extent with the help of a trusted white-collar crime attorney. 

Illinois Embezzlement Laws

Embezzlement is defined as theft when there is a fiduciary relationship between the involved parties when the embezzler acquires property as a result of his or her relationship and transfers that property to another party for his or her own gain, and when these actions are intentional and not due to a misunderstanding. Someone can be charged with embezzlement for the theft of tangible or intangible property. Tangible property can be anything from jewelry to cars, and intangible property can be money, stocks, billing schemes, and other financial assets.

There are many different tiers of embezzlement since the same crime encompasses a range of theft from an employee stealing from a cash register to a stockbroker stealing millions. The different categories of embezzlement are defined and punished as such:

• Under $500 not from a person: Class A misdemeanor and is punishable by less than one year in prison and fines up to $2,500

• Under $500 from a person or between $500-$1,000: Class 3 Felony that could lead to 2-5 years in prison and fines up to $25,000

• Between $10,000-$100,000: Class 2 Felony punished similarly to the previous Class 3 Felony

• Between $500,000 - $1,000,000: Class 1 Non-Probation Felony

• Over $1,000,000: Class X Felony

• Theft by Deception of at least $5,000 from a victim age 60 or older: Class 2 Felony

It is important to note that any of these crimes, when committed in a school or religious institution or involving government property, will result in at least a Class 2 Felony with 3-7 years in prison and fines up to $25,000.

Contact a Will County White-Collar Crime Attorney

Embezzlement is a serious charge, and it demands a strong and highly capable defense. If you or someone you know is accused of any criminal activity, it is imperative that you seek professional legal counsel. At the accomplished Law Offices of Tedone & Morton, you will find a trustworthy team with years of experience defending clients in white-collar cases. To schedule a free consultation with our Plainfield, IL criminal defense lawyers, call us today at 815-666-1285.

Source: 

http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=072000050K16-1