White Collar Crime: Embezzlement Or Property Theft

The California state penal code defines embezzlement as fraudulently appropriating funds or property by those who have been entrusted with it. In basic terms, this is the theft of assets by someone who has been granted access or oversight over the said assets. The most common form of this charge is the misappropriation of funds, according to the Legal Information Institute.

Embezzlement may occur in many different circumstances. Sometimes, it can cost a person to lose millions of dollars to another individual or something as simple as a small, every day product. Embezzlement may be defined by “fraudulent conversion of another 's property or money by a person to whom it has been entrusted.” (4*) For example, if a waitress in a restaurant were to take your order, bring your food, and proceed to collect the payment without punching it into the computer. Instead she chooses to

In this kind of crime, there is also a term “embezzlement”, which means the fraudulent appropriation by one person, acting in a fiduciary capacity, of the money or property of another (Bus Law text book, p.

In my white collar crime example, I am an employee. I’ve been working at this company for fourteen years. My coworker and I are responsible for handling the checks. My boss put me in charge for depositing money in the bank. The checks that I am supposed to deposit, I usually keep it for myself. I’ve deposited money on time sometimes to make things not look suspicious. My motivation for pocketing the money is because I don’t get enough money. I am a single mother with four children and I need money to support my kids and making sure that they have everything that they need. There are some nights when I don’t eat because I don’t have the money to buy anything for myself. This is the one of the easiest

Embezzlement is an act withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud. a lawyer might embezzle funds from the trust accounts of his or her clients; a financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the spouse.

In general, embezzlement occurs when someone who is entrusted with another’s property fraudulently steals all, or a portion, of those assets. According to the Legal Information Institute, the misappropriation of funds is the most common form of this white collar crime. For example, a person’s financial manager is supposed to take assets out of a client’s account and

For misconduct, crime, and criminalization in particular as it relates to white collar crime, there are the three main issues that must be addressed to show valid theory. The first is criminality. The criminality of white collar crime is the focus on an individual or organization’s motivation the situation that stimuluses and leads to the act of a white collar crimes. The theory is imparts the reason that makes a person commit a white collar crime. The second issue white collar crime theory must address is the explanation of a crime. In the case of white collar crime the situational factors play a much bigger role and most situations are not the same. When it comes down to this level of analyzing a white collar crime. Some of the factors

A civil conspiracy, also known as collusion, is an arrangement between two or more parties to deprive a third party of legal rights or deceive a third party to obtain an illegal objective. It is not necessary that all the conspirators be involved in each stage of planning or know about all the details. Forgery is the process of making, adapting, statistics, or imitating objects, or documents with the intent to deceive a seller or the publics opinion. In the case of a bad check, the laws and punishments very widely state by state. Embezzlement is defined in most states as theft and/or larceny of assets by a person in a position of trust or responsibility over those assets. Embezzlement usually occurs in the employment and corporate settings.

All type of crimes are committed daily, but not all are heard about on the news or read about in the paper. The crime that is most talked about and televised are those involving massive harm to someone and the less one talked about it the ones committed behind closed doors like corporate and white collar crimes. Many studies are done yearly to determine what makes up the characteristics of a killer or a serial robber but none about what makes someone want to steal from their job or put others in harm’s way for a profit off of their

“In a country that prides itself on transparency, accountability and the rule of law, corporate justice cannot be allowed to continue to consist of coercion behind closed doors” (Smith and Howat 109). White-collar crimes are explained in “White-collar crime” as, price fixing, false advertisement, and wiring and tampering with accounts belonging to anyone other than, in this case, the criminal (Levenson). With the advancements in technology and increase in satellite towers breaching financial accounts or even obtaining financial information has become effortless. Criminals commit the crime to improve their social status. These crimes do not include physically harmed victims; however, they do include victims that are affected through a different nature. They are different, because victims not only lose trust within the corporation, they also lose out on a valued product. Victims may inquire restitution, but it is not always prominent that will make matters right for them. Punishment for white-collar crimes affects the corporations social status, how the corporation can continue to manufacture after the crime, and how companies plan to go about restitution for victims.

White collar crimes often consist of financial, non-violent criminal acts committed by someone who uses their social status or position within their occupation for financial gain. These crimes are usually done by professionals such as bankers, lawyers, office workers, business managers, executives and/or accountants. These professionals committing these white-collar crimes want to attain financial income and ensure they get away with it. Often, they target people who are gullible, with low or no education, elderly or simply take advantage of someone’s trust. The offender usually starts small then makes it a habit due to the oversight of the crime being committed. Although these crimes tend to not be nonviolent they violate the person’s involved trust which can cause psychological damages to the victim.

This is evident by the frequency of reports in the local media. Cash is the most vulnerable asset as it is the easiest for the perpetrator to convert to personal use. Firms most vulnerable to theft of money are firms that must rely on one individual to perform the duties of office manager and bookkeeper. Having more than one employee in the office provides an opportunity to effect certain internal controls, particularly separation of duties. Small business owners should review their insurance coverage for employee dishonesty. While there are no standards to determine precisely the amount of coverage necessary, the marginal cost of adding an extra $1,000 of coverage decreases as the coverage increases. A business owner should consult with an insurance agent and err on the side of caution, just to be safe.

Employee theft is a crime that is costing U.S. companies a great deal of money. Employee thefts are growing in number, partially because the perpetrators really do not see themselves as criminals and rationalize what they are doing in much the same way as taxpayers rationalize income tax fraud. Employee theft is one of many personnel problems that is easier to prevent than to solve. Prevention should begin before an applicant becomes an employee. Some theft

Sometimes known as the ‘victimless’ crime, White Collar Crime includes crimes such as fraud, embezzlement and, more often than not, results in the criminal profiting money-wise which is one of the biggest lures into White Collar Crime (WCC).

In crimes that are related to business, it's not always the employees of those businesses that that stray away from their morals, and greed overcomes their judgment. On May 19th 2014, a Brooklyn, N.Y., man was sentenced to state prison for orchestrating a bank fraud system with at least two defendants. The defendants in this case were found to be impersonating people to whom are holders of legitimate business bank accounts. In their scheme, they were able to steal more than half a million dollars.