Embezzlement – officially called ‘theft by conversion’ – is a unique crime committed when people otherwise authorized to handle legally possessed money and property use the same in an unauthorized manner. Embezzlement most often occurs when the property holder has a fiduciary relationship with the legal owner or lawful access to business funds.
Theft by conversion is a serious crime in Georgia, but the penalties depend on the amount embezzled. The experienced Atlanta embezzlement defense lawyers at Ghanayem & Rayasam may be able to suppress unlawfully obtained evidence, negotiate favorable plea deals, or otherwise fight to have theft by conversion charges dismissed.
Overview of the Georgia Theft by Conversion Statute
GA Code § 16-8-4 criminalizes theft by conversion, also known as ‘embezzlement.’ This crime occurs when someone with lawful possession of money or property, under an agreement to use that property for a specific purpose, instead uses it for their own benefit. Failing to return borrowed property or paying on an account upon demand also qualifies as theft by conversion.
Direct Penalties for Embezzlement Convictions in Atlanta
The punishment for theft by conversion in Georgia is laid out in GA Code § 16-8-12. The specific penalties associated with the charged offense depend on the actual or fair market value of the converted property and any prior convictions for theft.
Misdemeanor Conversion
Generally, embezzlement is a misdemeanor punishable by less than one year in jail, plus fines and repayment, if the property was valued at less than $1,500. Reputable theft defense lawyers in Atlanta will attempt to reduce felony-level embezzlement charges to misdemeanors during plea negotiations or by having certain unlawfully seized records and evidence excluded from consideration.
Felony Embezzlement
Converting property worth more than $1,500 is a felony. Theft between $1,500.01 and under $5,000 carries a mandatory one-year prison sentence, but the maximum sentence can range up to five years. Embezzling funds or property worth between $5,000 and $24,999.99 is punishable by at least one year and up to 10 years in prison. Property exceeding $25,000 is punishable by a mandatory two years and up to 20 years in prison. All third-time offenses are felonies, and additional penalties might apply if you breached your fiduciary obligations.
Fines and Restitution
In addition to jail time, convicted offenders will be ordered to ‘repay’ the victim. This is called ‘restitution’. The court might also impose mandatory court costs and fines.
Indirect Consequences of Theft by Conversion Convictions in Georgia
Because embezzlement involves breaching a lawful agreement – often among business professionals – offenders may be subject to the following:
- Civil liability
- Loss of financial service licenses
- Termination from employment
- Inability to obtain new employment
- Theft offenses on your criminal record
- Disqualification from certain professions
- Difficulty obtaining credit cards, mortgages, and loans
Always consider both the direct and collateral consequences of a white-collar conviction before pleading guilty.
Atlanta Embezzlement Defense Attorneys
If you’ve been charged with theft by conversion in Georgia, you may be facing significant criminal and civil penalties. Contact the experienced theft defense lawyers at Ghanayem & Rayasam immediately to discuss strategies for defeating or reducing Atlanta embezzlement charges. Call (404) 561-0202 or contact our white-collar defense team online.