Allegations of theft via embezzlement fall under larceny charges in New York statutes. This applies to missing or lost data, utilities and trademarks under theft laws, and a loss of money or property.
Board of directors or employers may begin the initial investigation if they discover property missing. Depending on what they find, they may send this information to law enforcement agencies. This could lead to larceny charges.
How embezzlement becomes larceny
The New York Senate’s website draws out the lines between different degrees of larceny. Different degrees of larceny depend on the market value of the property at the supposed time of the incident. Without law enforcement being able to place a value on the property, it defaults to no more than $250. This instead classifies as a misdemeanor petit larceny.
Grand larceny charges
Grand larceny occurs when the value of something exceeds $1000. However, even if the value falls below that, it may still count as grand larceny based on values of written instruments like public documents or checks. If a charge exceeds $1,000, unlawful use of a credit card also counts as larceny. Allegedly misappropriated properties of over $1,000 also fall under this category, i.e. embezzlement.
Requirements for conviction
Larceny convictions all require proof of taking property with the intent of depriving the owner, though. It is possible to counterargue if you have a right to the property in question, or if the value of a property was not assessed correctly. Proving this lack of intent could potentially mean the difference between facing conviction or not, so it is important to have a strong defense.