My Paper
Embezzlement
Introduction
Edwin Sutherland differentiated the white collar criminal from the outlaw. (Sutherland & Cressey, 269). In 1939, Sutherland coined the phrase “white collar crimes” as representing “crimes committed by persons of respectability and high social status in the course of their occupations. Embezzlement was one of the crimes that were later focused on in White-Collar Crime cases. Embezzlement occurs when a person fraudulently appropriates to his/her own benefit money or property entrusted to him/her by another without the effective consent of the owner, often associated with the misappropriation of money( Williams, 2006). Embezzlement is the type of crime that carries substantial costs, the victims of embezzlement suffers major effects, and the regulations and policing associated with embezzlement charges carry serious consequences.
Embezzlement as a crime
Embezzlement is considered a crime regardless if the person keeps the personal property/monetary or transfers it to a third party. Originally embezzlement was not a crime because the thief had the right to possess the funds, so illegally using the funds was an element of larceny, which is also illegal, but considered a form of robbery, and could not be proven as embezzlement. The Courts determined that the question of whether embezzlement was a crime or not by considering the substantial control of the funds by the employee’s job title, job description, and the practices of that particular company(Infoplease,1994-2007). To reduce the chances of getting caught, embezzlers will sometimes skim small amounts of the money off the top over a particular amount of time so that the money will not be missed. The Internal Revenue Service requires that embezzlers include embezzled funds in their yearly income taxes, so if these funds are not reported; the embezzlers risk being later audited, and charged with tax evasion. After the individuals are charged, the arrest has to be investigated, and
Introduction
Edwin Sutherland differentiated the white collar criminal from the outlaw. (Sutherland & Cressey, 269). In 1939, Sutherland coined the phrase “white collar crimes” as representing “crimes committed by persons of respectability and high social status in the course of their occupations. Embezzlement was one of the crimes that were later focused on in White-Collar Crime cases. Embezzlement occurs when a person fraudulently appropriates to his/her own benefit money or property entrusted to him/her by another without the effective consent of the owner, often associated with the misappropriation of money( Williams, 2006). Embezzlement is the type of crime that carries substantial costs, the victims of embezzlement suffers major effects, and the regulations and policing associated with embezzlement charges carry serious consequences.
Embezzlement as a crime
Embezzlement is considered a crime regardless if the person keeps the personal property/monetary or transfers it to a third party. Originally embezzlement was not a crime because the thief had the right to possess the funds, so illegally using the funds was an element of larceny, which is also illegal, but considered a form of robbery, and could not be proven as embezzlement. The Courts determined that the question of whether embezzlement was a crime or not by considering the substantial control of the funds by the employee’s job title, job description, and the practices of that particular company(Infoplease,1994-2007). To reduce the chances of getting caught, embezzlers will sometimes skim small amounts of the money off the top over a particular amount of time so that the money will not be missed. The Internal Revenue Service requires that embezzlers include embezzled funds in their yearly income taxes, so if these funds are not reported; the embezzlers risk being later audited, and charged with tax evasion. After the individuals are charged, the arrest has to be investigated, and
Cited: Argo, D. T. “White Collar Crime.” We Cannot Afford It! (1978):5. NCJRS. Investments.” (2008). Phoenix Business Journal. Web 20 June 2012 Code 18 U.S.C Infoplease.com. “embezzlement.” The Columbia Electronic Encyclopedia © 1994, 2000-2006, on Infoplease Infoplease. Web. 15 Jun. 2012 Radzinowicz, L., Wolfgang, M Basic Books, Inc., Volume 1 Publishers (1971). Web. 15 June 2012 Sutherland, E Fillmore eds., J. B. Lippincott Company 1978) (1924). Web. 15 June 2012 Williams, H.E Financial Fraud, Volume 2 (2006):361. NCJRS. Web 15 June 2012 M-F 12:30 PM -01:45 PM Summer, 2012 Professor Kevin Wolff June 22, 2012