In the state of Georgia, embezzlement also referred to as “conversion” is the act of theft by those who are put in a place of trust or responsibility for said stolen assets. If you have been charged with this conviction, you can expect to face severe consequences. Continue reading to learn more and reach out to the Miller Law Practice today to speak with a dedicated and experienced Cobb County criminal defense lawyer.
What is embezzlement in Georgia?
In Georgia, embezzlement laws are established to prevent very specific theft acts from happening. Particularly, it is in reference to those who are in a place of trust or who hold responsibility for assets that do not belong to them. This includes employees, legal guardians, accountants, bankers, and others who have a fiduciary relationship with the property they are considered to protect but claimed instead.
With that being said, the state of Georgia does not identify the term “embezzlement.” Instead, they refer to it as “conversion”, which is a more generalized legal term. Mainly, it suggests that someone uses or controls someone else’s property without permission. However, keep in mind that under Georgia laws, it must include the individual lawfully acquiring the property first, which is what sets Georgia conversion apart from common law conversion.
What are Georgia’s embezzlement laws and penalties?
Under Georgia laws, the valuation of the property will decide the extent of the conviction as well as the associated consequence. For example:
- The property’s fair market value will first be specified. This is done, in the case of tangible property, by asking the supplier of that property or a reasonably equivalent one, for a reference of price. This value should be higher than the value of the object when the trial took place or the value of the object when the embezzlement happened.
- Rental charges for the property if a rental agreement covered it. This should cover the time of when the object was first embezzled to the time at which the property was recovered, if at all.
- The interest on any unpaid or outstanding balance, taking into account the official legal rates. This starts at the point of the court order and continues until payment is made in its entirety.
The penalties for this charge include the following:
- A misdemeanor if the value of the property was less than $500.
- A prison sentence of between five and 10 years if the property was valued above $500 or if the victim was a person of 65 years or older.
Contact Our Experienced Firm
At the Miller Law Practice, we support clients through a variety of legal matters. If you are facing criminal charges, or have been injured due to the negligence of another party, our firm will fight for you. Contact Miller Law Practice today.