What Are the Most Common Types of Embezzlement?

Picture of a person commiting one of the most common types of embezzlement

When most people think of common types of embezzlement, they think of CEO’s and pyramid schemes. That’s because these are the types of cases that make the nightly news. However, in the real world, most embezzlement schemes are on a much smaller scale. And, they’re committed by all types of employees – from CEOs to cashiers and waiters.

There are all different kinds of embezzlement. Most do involve people who work in larger companies or banks. However, embezzlement can happen in just about any type of business. It doesn’t matter whether they deal in cash or not. People who are determined to steal will find a way to do it no matter what.

If you’ve been charged with embezzlement, you’re probably scared. You have no idea what you’re up against. You have probably googled the penalties for embezzlement dozens of times to try to find out what’s going to happen to you. Rather than do this, you should just call an experienced criminal lawyer in Connecticut. They can let you know how the criminal justice system really works. They can also give you a better idea of what your future holds.

If it’s any consolation, hundreds of people are arrested and charged with embezzlement every year. Some people embezzle a few thousand dollars while others are charged with embezzling millions of dollars. Here are a few of the more common types of embezzlement schemes that criminal defense lawyers in Connecticut handle.

Cash Skimming

The most common form of embezzlement is cash skimming. This is the kind of thing that cashiers and bartenders do. Instead of putting cash in the register, they put it in their pockets. A good example of this is a bartender who doesn’t ring up a sale and, instead, puts the cash in their pockets. As long as they don’t ring the drink, they figure the manager will never know the drink was sold.

Wire-Transfer Embezzlement

People who commit wire transfer embezzlement are a bit more sophisticated than those who engage in cash skimming. People who do this type of embezzlement find a way to intercept, manipulate and alter accounts so that they can send partial amounts or full amounts of wire transfers to their personal account. For example, if a client is paying their bill via bank wire, the defendant gives them their own personal bank account information instead of their company’s information.

Embezzlement Involving Negotiables

One of the hardest forms of embezzlement to pull off is that kind that involves negotiables. This is when an employee steals, alters, forges or manipulates a negotiated instrument in order to divert the money to their own account. Some of the ways they do this involve the following:

  • Refund authorizations
  • Credit and debit memos
  • Computerized checks
  • Customer money orders

By changing the information on the instrument, the defendant is able to somehow divert the money into their own accounts.

Computer-Based Embezzlement

People who are very good with computers and programming usually attempt to embezzle using computers. Since so many transactions are done electronically, it’s a lot easier to intercept these transactions using computer functions. There are a few common examples of how this happens, including:

  • Electronically take a portion of your company’s sales and transfer them to your personal account
  • Use computer code and programming to automatically transfer money to your own account
  • Create a trojan horse that can issue unauthorized transactions without detection

Credit Card Embezzlement

Regardless of what type of industry you work in, you probably use credit cards. Whether this is to run sales or credits, it doesn’t matter. Once an employee has a client, customer’s or employer’s credit card information, they can commit credit card fraud. For example, a cashier can take a customer’s credit card information and buy items online. They can then return those items for store credit or sell them to people for cash.

Contact a Connecticut Criminal Defense Lawyer Today

If you’ve been charged with embezzlement, you could be facing fines and potential jail time. It’s important that you have an experienced criminal defense lawyer in Connecticut at Aeton Law Partners there to help you. They can negotiate with the prosecutor to either dismiss or reduce your charges. They can also work to get you the lease possible punishment possible.

Call today and schedule your initial consultation. There’s too much at risk to try to handle this on your own.

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