{"id":375261,"date":"2016-03-31T21:36:04","date_gmt":"2016-04-01T02:36:04","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/new-york-law\/new-york-embezzlement-laws.html"},"modified":"2018-02-26T18:50:36","modified_gmt":"2018-02-26T23:50:36","slug":"new-york-embezzlement-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/new-york-law\/new-york-embezzlement-laws.html","title":{"rendered":"New York Embezzlement Laws"},"content":{"rendered":"\n
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New York Embezzlement Laws<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Embezzlement is one of several methods for committing the overarching crime of larceny, which involves the wrongful taking or withholding of property from its rightful owner. Embezzlement is when property is taken by a person entrusted to hold it on behalf of the rightful owner<\/a>, often an employer or client. In New York, embezzlement is included within the larceny statutes, rather than as a stand alone statute. A prime example of embezzlement is when property is entrusted by the owner to persons having a fiduciary obligation<\/a>, such as officers or directors of a corporation, or a bailee, agent, or trustee.<\/p>\n

For purposes of New York’s larceny statutes, "property" means "any money, personal property, real property, computer data, computer program, thing in action, evidence of debt or contract, or any article, substance or thing of value, including any gas, steam, water or electricity, which is provided for a charge or compensation."<\/p>\n

New York Embezzlement Laws At A Glance<\/h2>\n

The chart below contains some additional information on embezzlement-related laws in New York.<\/p>\n\n
Statutes<\/b><\/td>\n
Penalties and Sentences<\/b><\/td>\n

The degree of a larceny-by-embezzlement offense depends in large part on the value of the property stolen. Embezzlement of property exceeding $1,000 in value constitutes fourth-degree grand larceny, a class E felony. However embezzlement of property exceeding $1,000,0000 in value is a first-degree offense and a class B felony.<\/p>\n

Classifications of grand larceny offenses range from class E to class B felonies. Such convictions carry a sentence of at least 3 years and up to 25 years in prison. In addition, the court may impose a fine which is the greater of $5,000 or double the amount of the defendant’s gain from commission of the crime.<\/p>\n<\/td>\n<\/tr>

Defenses<\/b><\/td>\n

It is an affirmative defense to the charge of larceny if:<\/p>\n