Trust theft has many synonymous and interchangeable terms, including embezzlement, workplace theft, and employee theft. The basic premise of a trust theft assumes that a person, typically an employee, is entrusted with particular assets and converts those assets for personal gain. An example could be an employee overseeing financial operations of a company, and slowly takes from a certain account and puts it in his own.
Trust thefts are common in corporate and business settings. Sometimes employees take out unnoticeable amounts of money or assets; other times they are complex schemes intended to embezzle large amounts of money or assets.
The penalties for trust theft in Calgary can be very serious. The â$5,000 ruleâ defines the penalties for people who convert money or assets for personal gain.
Theft over $5,000 (Major)
Stolen items worth more than $5,000 can result in 10 years in prison. This kind of theft is also classified as an indictable offence, which makes it extremely difficult to receive a criminal record suspension.
Theft under $5,000 (Minor)
Stolen items worth less than $5,000 can be prosecuted as an indictable offence or as a summary conviction offence, depending on the severity and the intent of the crime. If the offence is processed as indictable, the maximum penalty is two years in prison. If it is processed as a summary offence, the penalty can be a $5,000 fine, six months in prison, or both.
Typical instances of trust thefts or embezzlement include a discharge from employment and charges pressed against the supposed offender, so that liabilities against financial loss are not incurred. If you have been accused or charged with a trust theft, embezzlement or white collar crime, contact Blumer Ouellette Solutions at 1-844-BOS-TEAM to schedule a consultation.
Our experienced Calgary Trust Theft Criminal Defence lawyers will guide you through the entire process.