Embezzlement Law Michigan
Embezzlement is a type of property theft. It occurs when the accused who monitors or manages the property or money of someone else, steals for his/her personal gain.
What is essential to understand here is that the accused enjoyed legal access to someone else's money. The key to the embezzlement law in any state is that while the defendant possessed legal access to someone else's property or money, they did not have its legal ownership.
When a person takes property or money from another person for his/her benefit, the behavior is similar to stealing. Also, such theft also means a breach of a special kind of trust.
Embezzlement can take place in various circumstances. A bank employee, for instance, enjoys legal access to the funds of the clients and has the responsibility to handle but is not supposed to take that money.
Employees and officers of organizations may also embezzle funds that belong to their companies, as well as a family member who takes care of a relative.
Another example is when a clerk in a shop steals money from the store's cash register while they are working, it will be regarded as embezzlement. Many states have defined distinct statutes that address embezzlement and theft/larceny separately. Michigan is one such state in the United States of America.
What Does Embezzlement Law Michigan Prohibit?
According to Michigan embezzlement laws, a person is prohibited to fraudulently convert or dispose of any property or money for his/her personal use when it is under the control or possession of that person because the person is the custodian, bailee, trustee, employee, servant, or agent of the property owner. The law will consider that the person has the intention to embezzle when he/she refuses, neglects, or fails to refund.
Punishment for Embezzlement in Michigan
Embezzlement in Michigan is penalized according to the type or value of the property stolen. There's also a potential of harsher penalties when the defendant had felony convictions.
- Value of property or money is less than 200 USD
The punishments include a maximum jail term of 93 days and/or a maximum fine of 500 USD/ up to thrice the embezzled property's value.
- Value of property or money is a minimum of 200 USD but below 500 USD
The punishments include thrice the amount embezzled or a maximum fine amount of 2,000 USD and/or a maximum jail term of 1 year. However, when the defendant embezzled funds from a charitable organization or a nonprofit corporation or has had 1 or multiple theft-related convictions, then he/she has to pay a maximum fine of 10,000 USD or thrice the amount they embezzled (higher of the two). He/she might also be sentenced to a prison term of 5 years.
- Value of the stolen property/money is at least 1,000 USD but less than 20,000 USD
The offender has to serve a maximum prison term of 5 years and/or a maximum fine of 10,000 USD or thrice the amount embezzled (Greater of the two).
- Value of the stolen item is at least 20,000 USD but less than 50,000 USD
The convicted may have to pay a maximum fine amount of 15,000 USD or thrice the amount embezzled (Greater of the two) and/or a maximum prison term of 10 years.
- Value of the stolen item is a minimum of 50,000 USD but less than 100,000 USD
The punishments include a maximum fine of 25,000 USD or thrice the amount embezzled (Greater of the two) and/or a maximum prison term of 15 years.
- Value of the stolen property/money is 100,000 USD or more
The guilty have to pay a maximum fine of 50,000 USD or thrice the amount embezzled (Greater of the two) and/or a maximum prison term of 20 years, according to the embezzlement definition law of Michigan.