Embezzlement Law Rhode Island
While embezzlement is regarded as a type of property theft in many states, it is quite distinct from simply taking away something that does not rightfully belong to a person. It usually occurs if the defendant, who was responsible for managing the property or money of someone else, robs part of or the entire assets for their personal use. The defendant should have had the lawful access to the property or money of another person but is not a legal owner of the same.
In Rhode Island, monetary crimes are complex, as well as, severe. They need the engagement of a seasoned criminal defense lawyer who is well conversant with the state embezzlement law. An experienced attorney will make sure that their client’s reputation is defended in the court well using compelling arguments and a strong defense.
Fraudulent Conversion and Embezzlement
All official of a financial institution, as well as all servants, clerks, agents and officers to whom someone else’s property or money will be entrusted for any particular objective, as well as, each individual acting as a trustee, custodian, assignee, receiver, guardian, conservator, administrator, or executor appointed by the judgment or decree of court, or by will, deed, or other written instrument who fraudulently converts or embezzles the same for his/her own gain that have been entrusted in his/her possession or will be under his/her charge because of his/her employment or because of his/her acting as an administrator, executor, conservator, guardian, assignee, receiver, trustee, or custodian, or any other individual who will receive or collect money or property from someone else for a commission out of that money or any other property so received or collected and one who will retain part of or entire property or money so collected in a fraudulent manner especially after receiving more than the commission amount and shall fraudulently convert or embezzle it for his/her personal gain or shall secrete or take it with the intention to fraudulently convert or embezzle the same to his/her personal gain, shall be considered guilty of committing a larceny according to the embezzlement law Rhode Island.
Embezzlement By An Employee or Bank Officer in Rhode Island
Each trust company, savings bank, servant, agent, or officer of a bank who will indulge in embezzlement or appropriate any effects, goods, funds, or moneys of any trust company, savings bank, or any bank for his/her own sue and has the intention to defraud or cheat any individual will be held guilty of committing a larceny according to Rhode Island embezzlement laws.
Punishment of Embezzlement in Rhode Island
In Rhode Island, charges of embezzlement are quite commonplace. Any person who is serving a position of managing the finances of a business, store or bank can be accused of committing the offense of embezzlement. Such people who are vulnerable for this charge include estate administrations, employees of companies, and bank tellers. Similar to any other criminal offense that involves money, when the property or money being stolen is of a higher value, the punishments become even more stringent. According to the embezzlement definition law of Rhode Island, embezzlement criminal offenses can be penalized in the following manner:
- If the value of the property or money stolen is less than 100 USD, then the offender has to serve a maximum prison term of 1 year or/and a maximum fine of 1,000 USD.
- When the value of the money or property stolen is 100 USD or more than that, the convicted is penalized with a maximum prison term of 20 years and/or a maximum fine amount of 50,000 USD or up to thrice the value of the property or money embezzled.