Probably you hear about embezzlement cases on the mainstream media but do you know what it entails? Most people think that the crimes happen in state offices or large corporations. Still, it can happen to individuals or small businesses. So let us define the term in our next section.
What is Embezzlement?
Embezzlement crimes differ from general theft because the person committing the offence had the rights to access the resources. The most famous case is the misappropriation of funds by employees to defraud a company. Although the individual had the right to act on behalf of the entity, they should not benefit from the resources.
In other instances, an employee may move funds from the client’s accounts to their own or someone else illegally. Still, an individual working for a business might alter the firm’s financial records to hide financial theft and embezzlement. Commonly, the embezzler will use someone else’s account to steal the money and hide their actions. However, whenever a company discovers a likelihood of embezzlement, it is critical to take necessary action.
What to do in case of Embezzlement
After discovering the probability of embezzlement in your company or accounts, it would be best to report the incident to the police. However, to prevent further financial losses, contact your bank and secure your funds from access by another entity. It may entail revoking the suspect’s rights to act on behalf of the company until the investigations are complete.
After investigations, the police will have criminal charges against the person and have a public prosecutor take up the case. But, a victim of fraud through embezzlement can seek private prosecutions to the case. The initiative of having a personal lawyer help you with the issue can be beneficial as they are more effective than the public prosecutors. It is vital to hire an attorney with previous experiences with the case and have a successful record in the legal processes.
The penalties for embezzlement cases include jail time and fines. However, a lawyer must consider certain elements to help them win the case. Here are items a qualified and experienced legal expert will do to win such a case;
- Establish the victim entrusted the accused with the resources; this is the main difference between theft and embezzlement cases. A lawyer will offer proof that the victim owned the resources and entrusted the accused with them.
- There was mutual trust between parties; the authorization of the accused to act on behalf of the victim needs to be evident. A legal expert can show the trust between the parties through the agreements they had in their engagements.
- The accused benefited from the act; the prosecution needs to show that the accused benefitted from the action. The lawyer will show the manipulation of facts or records by the accused to misrepresent the information and hide the truth from the victim.
- The intention; a guilty person of embezzlement will have the intent to defraud another entity. A lawyer needs to prove the criminal intentions to ensure they get the right convictions.