Dallas Embezzlement Lawyer
What is embezzlement of a financial institution in Dallas?
Embezzlement of a financial institution occurs when a person or organization intentionally misuses assets that are not theirs.
This white-collar crime involves misappropriating capital or property by someone who had lawfully attained permission to handle the assets but used them (or spent the money) for unintended purposes. This type of fraud is a breach of fiduciary responsibility. These are often complicated cases that require a dedicated Dallas embezzlement lawyer who is skilled in financial cases.
State theft laws usually protect private money. Public money is protected by federal laws. Federal law 18 USC 641 defines public money as “anything of value of the United States.”
Embezzlers can be criminally charged and, depending on the size of the fraud, can face steep penalties. Embezzling could also bring civil suits. In this post, we’ll look specifically at the criminal side of embezzlement, what it looks like, the punishment, and how to best defend against such charges.
If you are facing embezzlement charges in Dallas, you need an experienced criminal defense attorney who knows how to navigate financial laws. A Varghese Summersett Dallas embezzlement lawyer will help fight the charges and build a defense to reach the best possible result.
Dallas Embezzlement Lawyer, serving the North Texas area
The value of the property or assets doesn’t need to be substantial for it to be a crime of embezzlement. Forms of embezzlement are often intertwined with other crimes, such as fraud, including Ponzi schemes. Embezzlement can involve small or large amounts of money. The crime could be as minor as a cash register clerk pocketing $10 from a store or as big as a business executive filing bogus expense reports worth millions of dollars and moving the money into personal accounts.
How is embezzlement different than fraud?
In an embezzlement case, the person had the legal authority to use or manage the assets and steal or misappropriate them. In a fraud case, the person had no authority over the money or property.
What is the punishment for embezzlement in Dallas?
Punishments for embezzlement in Dallas range from fines and restitution to prison.
The severity of the punishment depends on multiple factors, including the amount of money or property embezzled by the defendant. An experienced Dallas embezzlement lawyer will work tirelessly to weaken the state’s case.
The following are general penalties for different levels of an embezzlement conviction:
$100 or less: Class C misdemeanor, up to $500 fine
$100 to $750: Class B misdemeanor, up to $2,000 fine, and a potential maximum six-month jail sentence
$750 to $2,500: Class A misdemeanor, up to $4,000 fine, and a maximum of one year in jail
$2,500 to $30,000: State Jail Felony, up to $10,000 fine and between six months and two years in state jail
$30,000 to $150,000: Third-degree felony, up to $10,000 fine, and between two and 10 years in state prison
$150,000 to $300,000: Second-degree felony, up to $10,000 fine, and between two and 20 years in state prison
$300,000 or more: First-degree felony, up to $10,000 fine, and between five and 99 years in prison
How do Dallas embezzlement lawyers defend against charges?
Defending embezzlement charges requires quick action by a defense attorney. The first steps in this regard should include reviewing any financial records that track the flow of money alleged to be involved. Coworkers of the defendant and any management official above the defendant should be interviewed to determine the relationship between the purported whistleblower and the defendant.
It’s necessary for the defense to establish alternative explanations to the government’s narrative. Federal agents may have only talked to a limited number of witnesses during their investigation. Those specific witnesses may misunderstand certain facts or have ulterior motives that could challenge the validity of the state’s investigation.
It’s imperative that a defense team has a deep understanding of the complexities of government documents, business documents, and financial records.
The quicker a defense attorney can begin their own investigation, the sooner they have an opportunity to engage the prosecutors and help shape their understanding of the case even while the federal investigation is ongoing.
Dallas embezzlement lawyers have the responsibility to convey the costs and benefits of either proceeding toward a trial or pursuing a plea agreement of guilty to their client in an embezzlement case. The ultimate decision is the person facing the charges.
Sentencing guidelines in Dallas embezzlement cases
Section 2B1.1 of the United States Sentencing Commission guideline manual sets the sentencing parameters for most embezzlement cases.
Nearly every federal embezzlement conviction carries a statutory range of punishment of up to 10 years, with the base offense level usually six years.
In federal financial crimes, the primary driver is the intended or actual loss amount to the victim. The intended amount is the amount the defendant was attempting to steal. The actual loss amount is the amount the defendant actually stole.
The intended losses are significant because they generally are considered relevant conduct to be used to increase a sentence. Thus, the amount stolen or intended to be stolen allows offense levels to be added to the base offense. A skilled Dallas embezzlement lawyer could offer ways to mitigate such issues.
Other offense characteristics can be used to enhance the guideline calculation or add offense levels. Examples include a case involving 10 or more victims, involving members of a charitable or political organization or members of a government agency, causing financial hardship to more than five victims, and improperly obtaining email addresses.
Criminal history also plays a significant role in determining a defendant’s sentencing guideline calculations. The loss amount does not have to be extraordinary for the federal sentence to reach multiple years in prison when you include the potential federal sentencing enhancements, even if the defendant doesn’t have an extensive criminal history.
The sentencing guidelines aren’t mandatory, and judges have the ability to hand out sentences above or below the guidelines. Dallas embezzlement lawyers must be able to accurately evaluate any potential benefits to clients who cooperate with investigators.
Recent North Texas embezzlement cases in the news
Embezzlement doesn’t always involve tons of money. In fact, one of the most common examples is a misuse of a corporate credit card. Some recent examples in Dallas and surrounding areas include the following:
- A 74-year-old Lewisville woman pled guilty in December 2022 to a $29 million embezzlement scheme while working as a family estate’s bookkeeper.
- Two Dallas men, 54 and 56, pleaded guilty to stealing government funds in November 2022 for their roles in a $2.9 million scheme involving the U.S. Department of Veteran’s Affairs.
- A 72-year-old Dallas man who fled to Taiwan in 1992 after being convicted of 10 financial crimes, including five counts of embezzlement, was extradited in October 2022 and sentenced to 33 months in prison.
Need a Dallas embezzlement lawyer? Call Varghese Summersett.
Embezzlement cases require thorough, proactive attorneys well-versed in the complexities of financial crimes, federal laws, and investigative tactics employed by law enforcement officials. An embezzlement charge brings with it significant legal exposure and years in prison. If you’re being investigated for financial crimes, call the criminal defense team at the Dallas office of Varghese Summersett. For a free consultation, call 214-903-4000.
