Penal Code 503 – Embezzlement

1. Embezzlement Defined:Embezzlement involves the misappropriation or theft of funds entrusted to someone, often an employee, who has lawful possession of the funds. The person committing embezzlement typically has lawful access to the property but wrongfully takes or uses it for personal gain.
2. Intent to Defraud:Embezzlement cases involve an intent to defraud or a fraudulent conversion of the property. The person accused of embezzlement must have intended to permanently deprive the owner of the property.
3. Penalties:The penalties for embezzlement in California can vary based on factors such as the value of the embezzled property. Embezzlement is generally considered a wobbler offense, meaning it can be charged as either a misdemeanor or a felony. The decision may depend on the amount embezzled and other circumstances.
4. Restitution:In addition to criminal penalties, a court may order the person convicted of embezzlement to pay restitution to the victim, compensating them for the financial losses suffered.