How is Embezzlement Penalized in IA?

Being accused of a white-collar crime like embezzlement can be overwhelming, especially if you’ve never faced criminal charges before. In Iowa, the severity of the penalties for this offense is directly tied to the value of money or property involved. Understanding how Iowa law defines embezzlement and the potential penalties of a conviction is crucial in protecting yourself. To learn more and secure the help of a knowledgeable legal professional, read on and consult with an experienced Dallas County criminal lawyer today.

What is Embezzlement?

While it may not be common knowledge, many states do not recognize embezzlement as a separate or unique crime. Instead, it is often lumped in with other theft statutes. Under Iowa law, embezzlement is prosecuted under Iowa Code § 714.1(2), theft by misappropriation.

A person is guilty of this offense if he or she “Misappropriates property which the person has in trust, or property of another which the person has in the person’s possession or control, whether such possession or control is lawful or unlawful, by using or disposing of it in a manner which is inconsistent with or a denial of the trust or of the owner’s rights in such property, or conceals found property, or appropriates such property to the person’s own use, when the owner of such property is known to the person.”

Essentially, embezzlement occurs when you take money or property that was entrusted to you and use it for your own personal gain without permission from the owner. For example, suppose you work for a non-profit organization and are given the task of managing the company’s bank accounts. If you secretly transfer $20,000 from the organization to your personal account to pay off your credit card debt, it is considered misappropriation of entrusted funds and therefore constitutes embezzlement.