What is the Law on “Misappropriation of funds” in Oregon and What are the Punishments for it?
A common problem that the residents of Oregon have to deal with is a misappropriation of funds. An offense which falls under the white-collar crime category, it is one which comes with serious consequences. In order to combat this problem, the government has a set of rules and regulations.
Misappropriation of funds – What is the legal definition?
Every resident in Oregon should know about the meaning of misappropriation of funds. It is a crime, where the offender uses another party’s money for personal purposes. In the state of Oregon, this is a crime, as the individual isn’t the legal owner of the funds.
As it is a breach of trust between both parties, it becomes a punishable offense, under the eyes of the law. Here is an example of misappropriation of funds, which will help you understand this crime.
A company asks one of its employees who is in charge of handling money, to deposit a specific amount into the business’s bank account. However, this individual decides to take a portion and use it for the down payment of his/her vehicle.
Since this person isn’t the legal owner of the amount, the company will press misappropriation of funds. Although embezzlement is quite similar to this crime, there is one significant difference between the two.
In the case of misappropriation of funds, it only refers to money, not any other type of property.
Penalties if found guilty of misappropriation of funds.
The severity of punishment in the state of Oregon depends on the amount stolen from the legal owner. Prosecutors must show the jury or the judge that the accused had control, but wasn’t the rightful owner of the money. The attorneys must indicate that the defendant did have the intent to commit the crime. While it is not necessary to spend the funds for personal use, even transferring the amount to the personal account without authorization is an offense.
As per the law, if the offender takes funds which are lower than $100, it will receive the lowest tier of punishment. In this situation, the guilty party will have to pay a fine which won’t give above $1,250 and spend not more than 30 days in prison.
When the amount was stolen is greater than $100 but lower than $1,000, the severity of punishment increases. In this case, the offender will have to pay a maximum fine of $6,250. Also, the court will ask the individual to serve a maximum prison sentence of one year for committing the crime.
If the amount the offender steals is greater than $1,000 then it becomes a major crime. As per the law, the guilty party will receive a jail sentence which can last up to five years, along with a maximum fine of $125,000.
The most severe type of penalty is when the offender takes more than $10,000 from the legal owner. In this case, the maximum jail time for the crime is 10 years, along with a fine which won’t give above $250,000.
However, if the victim of the offense is 65 years of age or older, the length of imprisonment can range between 18 – 45 months.
Given the fact that the laws regarding misappropriation of funds tend to be complex in Oregon, getting professional help is always the best option. An attorney well-versed in criminal law will have the expertise to provide excellent advice in this situation.
As this individual is aware of the local courts and the laws of the state of Oregon, he/she will know what was the best course of action for misappropriation of funds. Whether another party is investigating you for the crime or they charged you for this offense, get in touch with an attorney immediately.