What does misappropriation of funds mean?

The term misappropriation of funds is used to describe the act of intentionally taking money illegally for an unauthorized purpose. People that are put into positions of trust may take money that doesn’t belong to them for their own personal use. They might the executor of an estate or in charge of another person’s trust fund. In some cases, misappropriation of funds can occur when an individual forges documents for the purpose of obtaining assets that don’t belong to them.

Trading In Your White Collar for Jumpsuit Jail Attire

Whenever someone is charged with a crime, they may face state or federal penalties. Most white-collar crimes that involve public funds or large amounts of money are often tried at the federal level. An individual who has misappropriated funds may be charged with any of the following offenses:

• Embezzlement
• Grand Larceny
• Fraud
• Forgery
• Theft

Most of these crimes are often prosecuted as a felony offense and carry a possible prison term ranging from one year to thirty years, depending upon the amount of funds stolen and other factors surrounding the case. If convicted, the defendant will be ordered to pay a fine of up to $500,000 or twice the amount that was misappropriated. In addition, civil charges may be brought against them where they could be forced to make restitution to the victims or turn over any profits that were obtained as a result of illegally using funds.

Legal Help From a Criminal Defense Professional

Anyone who misappropriated funds while they were working in tandem with another person may find himself or herself charged with conspiracy. The federal government can charge the suspects with conspiracy, regardless if they were successful or not. If you have been charged with a crime, it’s best to contact a criminal defense attorney who specializes in these types of crimes. They can examine the specific circumstances of your case and give you advice about how to proceed.