It is certainly true that embezzlement is considered a theft offense. Someone who is facing charges is being accused of taking assets or items that they shouldn’t have. For instance, an accountant could be accused of embezzling money from the company they work for.
But there is one key difference to keep in mind: embezzlement is generally a type of misappropriation. With direct theft, the person taking the money was never supposed to have access to it in the first place—such as someone who steals from a house or an apartment. With embezzlement, the person was allowed to access those financial assets, but they misappropriated them for their own gain.
Financial transactions
For instance, perhaps the accountant in question is in charge of certain financial transactions, such as shifting money between the company’s accounts or paying taxes. It’s part of their job description, so they are allowed to access those financial accounts and use the money in specific ways. Simply removing money from the account isn’t necessarily theft.
However, it becomes embezzlement if the accountant begins transferring money from those company accounts into their personal account. For example, maybe they skim 10% off every time they make a transfer, hoping that no one will notice the discrepancies. Since they are an accountant, they may also have access to the paperwork and other documentation, which they can falsify or alter to hide the transfers to their personal account.
These types of crimes are much more complex, especially in the digital age. Those who have been accused of embezzlement or other types of theft offenses must know what legal defense options they have.
