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White collar crimes in Texas: what constitutes embezzlement?

Embezzlement is a much more common crime in Texas than people might realize. Those who are accused of white collar crimes like this may not know exactly what it means or entails. Having a thorough knowledge of the details may help one prepare a proper defense and help to facilitate as positive an outcome as possible.

When a person steals assets that do not belong to him or her, but to which they were entrusted, that is known as embezzlement. It happens most often in corporate or employment sectors. People may have access to money or property that belongs to someone else for the purpose of utilizing the assets to the advantage of the owner. A typical example may be a bank teller who receives hundreds of dollars in cash deposits every day. People who bring their cash to the bank believe that the teller will deposit the money, or perform other requested actions, but it can happen that the teller will steal the funds.

Charges of embezzlement are only applicable if the following four criteria are met:

Fiduciary relationship: one party must be dependent on the other

Acquisition: the person accused must have received the property due to the fiduciary relationship

Ownership: the person accused must have taken the asset or given it to another person to whom it did not belong

Intention: the person accused must have meant to steal the asset

Those who are accused of embezzlement may not be aware of how seriously the charges are considered by prosecutors. White collar crimes can result in just as severe punishment as violent crimes. Still, it is worth noting that those who are accused of embezzlement are considered innocent unless and until proved guilty in the eyes of the law. That applies to any person here in Texas who is facing charges of this nature. For more information, visit the Findlaw site.

Source: findlaw.com, “Embezzlement“, , Aug. 24, 2014

Source: findlaw.com, “Embezzlement“, , Aug. 24, 2014