Embezzling is only possible if an organization trusts you with its finances. Perhaps you started by taking small, negligible amounts and were careful to keep your tracks clean. Your position may provide a temporary cover for your actions, but it is important to remember that you may eventually be found out.
How embezzlers are caught
Embezzlement is a type of theft where a person entrusted with handling funds for a business, misappropriates them for personal gain while on the job.
Business owners lead busy lives. They may not even suspect embezzlement until it’s too late. However, once they become aware of any inconsistencies in their books, they’ll do whatever is necessary to figure out why.
With the right tools and strategies, businesses can easily determine if an employee is misappropriating funds. Pulling up the company’s financial records and carefully auditing its transactions may allow employers to track where unexplained expenses are going. Moreover, certain software can track the flow of funds and identify any further attempts to embezzle.
The consequences of embezzlement
In Minnesota, the more money is stolen, the harsher the penalties may be. If you misappropriate a value over $35,000, you may face imprisonment of up to 20 years, a maximum fine of $100,000 or both. However, minor embezzlement cases where the total stolen amount is $500 or less may result in 90 days of jail time, and a fine of up to $1,000 or both.
Moreover, a conviction for embezzlement can jeopardize your career. Embezzlement is a serious crime and any potential employers who run background checks on you may be hesitant to hire you. It’s possible that you may not find employment in the same line of work again.
In court, the prosecution will have the burden of proving that the corporation trusted you with access to its assets and that you betrayed that trust by utilizing their funds for your own benefit. Embezzlement defense is difficult but possible. Seeking legal representation can help you understand your rights and legal options.