Misappropriation of Assets in Business Can Land You In Prison

Misappropriation of Assets in Business Can Land You In Prison

Misappropriation of assets such as embezzlement is considered to be a serious crime in the state of Illinois. If caught, you can face serious prison time along with fines and restitution. The higher the value of the assets, the more severe the penalties are. Even people who have never been charged with criminal activity can be prosecuted for this crime. With your freedom and integrity on the line, hiring an aggressive criminal defense lawyer in Palos Heights is a good idea.
 
Illinois Embezzlement Charges

In order for a state embezzlement or any misappropriate of assets charge to be laid in the state, the crime has to have occurred in Illinois and should not have involved a federal agency. Even though it is not considered a federal crime, the charge is still considered a serious offense.
 
The charge can be considered a misdemeanor if the amount of money that was found to be embezzled is under $500 and does not include theft. A conviction can lead to a year in prison and a fine amounting to $2,500. However, if the assets are under that amount but were taken from a person, the crime can be upgraded to a class 3 felony. This can lead to a two to a five-year prison sentence and a whopping $25,000 in fines.
 
Similarly, if the charge involved assets that fall between $10,000 to $100,000, it can lead to a three to a seven-year prison sentence and the equivalent fine. It will be considered a class 2 felony. In contrast, embezzlement convictions that involve assets that are worth between $100,000 to $500,000 are punishable by four to more than a decade in prison and a maximum fine of $25,000.
 
Federal Embezzlement Charges

You can be charged with federal embezzlement charges if you are found guilty of misappropriation of funds of property across state lines. If the case also involves a federal agency such as the US Postal Service, you can still face the same charges. The nature of the offense, the amount of money involved in the scheme, and whether you took responsibility for the crime or took it to trial will also be considered.
 
As such, if found guilty of misappropriation of assets, you can face severe penalties. For any embezzled amount that falls under $1,000, you can face a fine amounting to the same amount and a one-year jail sentence. If the amount is higher, you can face anywhere from a year to 10 years in jail and maximum fines amounting to a whopping $250,000.
 
Get in touch with Michael D. Ettinger & Associates Today

If you are searching for a criminal defense lawyer in Palos Heights, look no further than Michael D. Ettinger & Associates. We have represented clients during tough litigations and have provided proactive counsel that is designed specifically to settle future disputes. With our strong track record and our excellent reputation in the field, clients know they can turn to us for help when it comes to overcoming sensitive legal challenges. Get in touch with us for a consultation today before it is too late.