It’s true that embezzlement is a type of theft. People who are charged with it are accused of stealing financial resources, likely from their employer, for their own personal gain.
Embezzlement typically doesn’t involve force or threat, which other types of theft crimes do. An example would be when someone uses a firearm to rob a bank. Another example of theft could be an employee who decides to steal items from the office and take them home. This is a direct and intentional action, even though force wasn’t necessary.
So how is embezzlement different?
Embezzlement is different than those theft crimes because it involves the misappropriation of financial assets. An example would be an accountant who has access to the company’s main bank accounts because they need to transfer money from one division of the business to another. While doing so, the accountant transfers $1 million to their personal bank account. They then alter the books – which they are in charge of – to hide the theft.
The accountant did not commit any crimes by accessing the financial accounts. They did have permission to do so. But they misappropriated those funds by sending them to a destination – their personal bank account – that was never intended. Embezzlement is the act of using this position of power or authority for financial gain. It is often considered a white-collar crime.
Accusations of embezzlement can have serious ramifications and can drastically impact your career and your future. This is why it’s very important to understand what legal options you have if you are facing charges or under investigation.