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Archive for the ‘embezzlement’ tag

Embezzlement in Illinois: The Need to Know Basics

September 20th, 2017 at 8:48 am

embezzlement, Illinois embezzlement cases, Rolling Meadows white collar criminal lawyer, penalties for embezzlement, theftEmbezzlement is a type of theft that occurs when a person who has been entrusted with another’s property fraudulently keeps that property for his or her own personal gain or illegally transfers it to a third party. Embezzlement most frequently occurs when money is entrusted to the care of someone who then misappropriates that money in some way.

Examples of Embezzlement

While embezzlement can occur in countless ways, common examples of embezzlement include the following:

  • A waitress who pockets cash from a patron’s bill and enters a lesser amount into the cash register so that the till still balances at the end of her shift;
  • A payroll department manager of a large company who adds his family members who do not work for the company to the payroll in order to collect checks that they have not earned; or
  • The person in charge of counting a church’s weekly offerings who pockets $20 in cash from the collection each week.

Penalties

The penalties for embezzlement in Illinois vary depending on the value of what was stolen in accordance with code section 720 ILCS 5/16-1(b) of the Illinois Compiled Statutes. While those convicted of embezzlement can be forced to pay restitution and substantial fines, they can also be sentenced to serve significant time in prison. For example, consider the following prison sentences that can be handed down in Illinois embezzlement cases:

  • Theft not exceeding $500: Class A misdemeanor that is punishable by up to one year in jail. However, if the crime was committed in a place of worship or a school, or if the theft was of government property, then the crime is a Class 4 felony (punishable by up to three years in prison). Additionally, if the offender was previously convicted of another theft crime (for example, armed robbery, forgery, residential burglary etc.) then his or her embezzlement crime may also qualify as a Class 4 felony (punishable by up to three years in prison).
  • Theft of $500 to $10,000: Class 3 felony that is punishable by up to five years in prison. However, if the crime was committed in a place of worship or a school, or if the theft was of government property, then the crime is a Class 2 felony (punishable by up to seven years in prison).
  • Theft of $10,000 to $100,000: Class 2 felony that is punishable by up to seven years in prison. However, if the crime was committed in a place of worship or a school, or if the theft was of government property, then the crime is a Class 1 felony (punishable by up to 15 years in prison).
  • Theft of $500,000 to $1,000,000: Class 1 non-probationable felony that is punishable by up to 15 years in prison.
  • Theft exceeding $1,000,000: Class X felony that is punishable by up to 30 years in prison.

Consult With a Local White Collar Criminal Lawyer

As you can see, embezzlement is a serious crime that carries steep penalties in Illinois. Therefore, anyone who has been charged with embezzlement is strongly encouraged to retain an experienced Rolling Meadows white collar criminal lawyer to defend his or her interests. At The Law Offices of Christopher M. Cosley our criminal defense team has extensive experience defending clients accused of white collar crimes and is intimately familiar was the unique complexities that white collar cases pose.

Source:

http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=072000050K16-1

What Is a White Collar Crime?

August 10th, 2015 at 8:10 am

Illinois defense attorney, Illinois criminal lawyer, Illinois criminal statutes, Some types of crimes are motivated purely by financial gain, and these types of crimes are called “white collar” crimes, referring to the non-violent and money-centric nature of these crimes. White collar crimes often involve fraud in some form, dishonest behavior, or the inappropriate handling of funds or money that belongs to someone else. White collar crimes are often characterized by a highly complicated scheme devised to improperly make or steal money without anyone either noticing that money is missing or being able to easily identify the source of the theft. When white collar crimes happen, many people are affected and victimized.

Most Common White Collar Crimes

There are a number of white collar crimes that result in criminal charges. Fraud is the most common white collar offense, and it takes many forms. Wire, mail and internet fraud; business, business investment, and business opportunity fraud; bank, insurance and mortgage fraud; medicare-medicaid fraud; and securities fraud are some of the most highly popularized and widely reported white collar crimes in the media. For example, failed Ponzi schemes and insider trading are two white collar crimes that many people have heard about in the news due to the high profile individuals that have been involved in these crimes.

Misrepresentation is another common basis upon which white collar crimes are perpetrated. Misrepresentation is the underlying action behind criminal charges for crimes such as falsifying financial documents, falsifying tax documents, and forgery. Tax evasion, corruption, embezzlement and money laundering are all common white collar crimes that are also based on dishonest behavior and the improper handling of money.

Investigation for a White Collar Crime

When law enforcement suspects someone of being involved in a financially motivated crime, they will often openly inform the suspect that they are conducting an investigation. Due to the convoluted nature of the crime, it may take police a significant amount of time to sort out the specifics of the case.

However, in some white collar cases, innocent people get swept up in the mess. It can be difficult to determine ultimate liability, since the whole scheme may be orchestrated so that many unsuspecting people are involved, thereby depleting liability by spreading out accountability to many other people. Sometimes an employee was simply following orders, and had no idea that their actions contributed to something criminal. Whatever the case might be, if you are notified that you are under investigation for the commission of a white collar crime, you need to seek the help and guidance of an experienced white collar criminal defense lawyer immediately.

Call the Law Offices of Christopher M. Cosley

If you have been charged with one of these white collar crimes, or have been informed that you are being investigated, you need to get into contact with a dedicated Rolling Meadows criminal defense attorney immediately. Call the Law Offices of Christopher M. Cosley. Our phone number is (847) 394-3200.

Former Bank Account Accused of Embezzling Almost $280,000

June 17th, 2012 at 2:08 pm

Shaun Horan, 31, of Aurora, worked as an accountant at Resource One Bank in Oak Brook from 2007 to 2011. He was recently charged with embezzling almost $300,000 from his former employer.  Authorities allege that Horan wrote himself unauthorized checks totaling $286,237.23 from the company account, and in an attempt to conceal the thefts, either deleted or changed entries in the company’s books.

A co-worker discovered the missing money in December while reviewing bank records. A follow up internal audit by the bank confirmed the amount of the money that had been stolen. According to prosecutors, by then, Horan had already spent some of the money on a down payment for a house and a new car.

The Daily Herald reports that Horan is married with two children and has been working for a Chicago-based staffing service for about the past three months. He was charged with one count of theft over $100,000 and faces up to 15 years in prison if convicted. His bail was set at $250,000.

State’s Attorney Robert Berlin said in a statement, “White collar crimes, such as what is alleged in this case, can not only pose a great hardship to the victim, but can have an enormous impact on society as well. When a company is defrauded, it must make up for its losses by raising costs, which ultimately means higher prices for consumers.”

Berlinalso added, “Additionally, this can also result in less pay for employees and even job losses. The effect can continue to ripple when it comes to those employees who now find themselves unable to pay off loans, and credit becomes harder to obtain.”

If you are accused of committing a white collar crime, or any other crime, you need to retain the services of an experienced Elk Grove criminal defense attorney to ensure your rights are protected.

Embezzlement in Illinois

April 24th, 2012 at 11:41 pm

According to the Chicago Tribune, the Naperville Public Library’s board president has resigned amid embezzlement allegations. Napervillle police say that a warrant for 63-year-old Jerry Feldott’s arrest on theft charges was issued, and that Feldott turned himself in at the DuPage County Jail on April 19th.

Feldott is accused of embezzling $25,900 from the North Edgewood Homeowners Association, between 2007 and 2012. His arrest came following a two-month police investigation instigated when the association’s president and vice-president reported the missing funds.

John Spears, the director of the Naperville Public Library, says that Feldott resigned from his board position via e-mail. Feldott is the owner of and a broker at Feldott & Associates, Ltd., a Naperville real estate firm.

Another recent news story tells of Dixon, Illinois, where the town’s comptroller was recently charged with embezzling nearly $30 million from the town, which had an annual budget of $8 million, to fund her horse training business.

Embezzlement is one of a group of crimes known as white-collar crimes in Illinois. Although it may lack the grandeur of other types of criminal charges, an embezzlement conviction can lead to severe penalties. If you’re facing embezzlement charges in Illinois, a top Cook County embezzlement defense lawyer may be able to get your charges reduced or dropped. If that is not a possibility, an experienced Cook County criminal defense lawyer can advocate for you to receive the least sentence possible. Embezzlement lawsuits should be taken seriously and handled by a skilled Illinois criminal attorney.

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