Tag: theft

What are The Requirements for Filing an Embezzlement Charge?

When embezzlement is mentioned, it commonly refers to employee theft. But it is just one form of embezzlement as any act of misappropriation of funds that have been entrusted to someone’s care can be considered as the crime as well.

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For example, take someone who works in or manages a rental car business that does not own the vehicles. If he allows anyone else, like a relative or friend, to just show up and use one of the cars, even if there is no intention of keeping it, they could be charged with embezzlement.

For an embezzlement to be charged, the following factors must be met:

  • The two parties involved must be under a fiduciary relationship, which means one of them has the power to act on behalf of the other. The relationship or partnership is based trust, honesty, and loyalty.
  • The defendant or accused should have acquired the property because of the said relationship. It is either it was his responsibility to take care of the property, or it was entrusted to him.
  • The defendant or accused must be proven to have taken ownership or fraudulently used the property in question.
  • The actions of the defendant or accused were intentional or intended to deprive the owner of its use.
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Hi, Steve Sorensen here, a Certified Public Accountant and a business consultant who helps advises organizations on varying issues, including employee embezzlement. To know more about me, visit this Facebook page.