What is White Collar Theft?
Theft, when defined as a white collar crime, is the intentional taking of someone else’s property or money without their permission. This may also include the taking of public property for private use. White collar theft does not require the victim to be present during the act. The individual circumstances of the case determine whether the crime will be considered a misdemeanor or a felony.
White collar theft often includes charges of embezzlement. This is the stealing of property or funds from the owner by someone who has been entrusted with them as a part of their job. This type of white collar crime usually involves a cover-up plan as well to divert accountability if the offender is caught abusing their position.
In the United States, theft is often categorized by the value of the money or property that has been stolen. Petty theft is often the charge when the value is less than $500. It is considered a minor offense resulting in misdemeanor charges. If the value of the money or property is in excess of $500, the charge is grand theft which is a felony and considered a serious criminal offense.
White collar crimes usually have some element of theft involved. Often, large sums of money are involved which automatically makes the crime a felony. Conviction usually brings a prison term along with restitution paid to the victim.
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