You might think that theft is theft and that the process or method of acquisition of someone else’s property wouldn’t have much differentiation if any. However, there is a difference between Larceny and Embezzlement and the prosecution of the two separate crimes contains many variances. Both crimes are theft related and involve taking someone else’s property without permission.

Larceny

Larceny includes the process of taking someone else’s property without it having ever been in your possession prior to the act of theft. This would include walking into a business or home and stealing items and taking possession of them and then walking out of the property and then giving yourself ownership of the stolen items.

You had no prior ownership to any of the items that were taken. These items could have been property with which you were familiar with and had planned the theft in advance, or it could be items that were unknown to you before you decided to commit larceny. But they were never in your possession or use prior to the crime.

Embezzlement

Embezzlement differs in that the person committing the crime has had possession of the item or items taken without permission, prior to the act of theft. This includes lawful possession of the property including any items that are utilized during the act of performing your job for your employer.

This could include any and all materials provided to you in the course of performing your job whether monetary or physical property. Embezzlement includes the removal of money from the company and placing it in your possession and taking ownership and includes the removal of property. Often, the embezzlement means that a person of trust has taken advantage of their status within the company and committed theft in spite of that position.

Contact A Legal Representative

If you have been placed in a situation where you are facing crimes of larceny or embezzlement, choose to have an experienced attorney on your side giving you the best representation possible. Contact Morrison Law Firm today online or by calling (913) 780-6666. 

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A person who is given access to someone else’s property or money for the purposes of managing, monitoring, and/or using the assets for the owner’s best interests, but then intentionally misappropriates those assets for personal gain, is committing embezzlement. Embezzling generally takes place when an employee with authority steals money or assets, and it usually occurs in a corporate setting. Generally, the longer the embezzlement goes on, the stiffer the penalties are for the individual charged with the crime.

In July of 2015 a woman named Kathryn Sue Simmerman in Norton Shores, MI who managed a Federal Credit Union, was charged with embezzling almost $2 million from the credit union’s cash vault over more than 13 years. She was hired in 2006, and admitted the embezzlement started about 5 years into her employment. Documents from the case describe Simmerman stealing money from the bank vault and taking it home in her purse. She then manipulated documents to show these funds were deposited into the credit union’s correspondent bank. Simmerman is facing jail time, restitution, and up to 8 years supervised release after prison.

Many times not only is the person who is stealing charged, but their family members could also be charged for spending the money, which could put a spouse, or even children at risk. The longer someone is involved in the process of embezzlement the harder it is to hide it, stop it, and protect their family from the devastation.

When the act of embezzling is not immediately detected, the longer it can continue. The criminal involved in the crime begins to think he or she is invincible and won’t get caught, but usually the opposite is true. The more money involved, the steeper the fines and longer the sentence.

Call an Experienced Criminal Defense Attorney | Paul Morrison Law Firm

If you find yourself in a situation of embezzlement, and would like to get out, we can help. Involving an experienced attorney in the process can help you control the damage you have caused. Attorney Paul Morrison has extensive experience in representing white collar crime. His experience can give you information on how to proceed and protect not only yourself, but your family as well from the worst possible outcome of your decisions. Call (913) 780-6666 today or send an e-mail to schedule a free consultation. We are located in Olathe and also serve people from the Johnson County area.

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Business fraud cases usually go beyond a general breach of contract situation; they involve a more intentional dishonesty on behalf of a business. Generally a business could provide intentional false statements or omission of facts which another may rely upon to make a decision to their harm. This can happen in a number of ways but will always be determined by one side intentionally being dishonest. Business fraud often happens in transactions revolving around real estate transactions, a purchase and sale of a business, and many times contract disputes.

The Rippling Effect of Business Fraud Conspiracy

An example of this type of fraud happened in 2011, when owner Lee Farkas of one of the largest privately held mortgage companies was convicted of spearheading a nearly $3 billion mortgage fraud scheme. An article from the Washington Post laid out the following facts of the case: Farkas was the owner and chairman of Taylor, Bean and Whitaker, a top 10 wholesale mortgage lending firm. It was determined that from 2002 to 2009 Farkas and his co-conspirators used Taylor, Bean, and Whitaker as a middleman between lenders and investors. The firm borrowed money from Colonial Bank to buy FHA home loans, then pooled the loans into securities and sold them to investors, and then used Fannie Mae to guarantee those securities. “When Taylor Bean began having cash flow problems, the government said, Farkas and co-conspirators covered the shortfalls with money from Colonial Bank. They misappropriated billions of dollars to cover Taylor Bean’s operating losses, authorities said. The case against Farkas is one of the largest to emerge from the crisis that brought the nation’s financial system to the brink of collapse.”

Contact a Kansas Business Fraud Defense Attorney | Morrison Law Firm

Business fraud isn’t just stories made up in the movies. If you find yourself targeted in an investigation, don’t wait to be indicted before you contact an attorney. Call our team of experienced defense attorneys at the Morrison Law Firm today. Prosecutors will have their teams of investigators looking for evidence from the moment they begin looking into your business. Arm yourself with a defense from the start. Call us today at 913-780-6666, or contact us online for a free consultation.

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Willie has seen some little flags here and there with the head of his company’s accounting department. From time to time he’d notice his own personal petty cash was just a few dollars short of its documented amount. Another time he noticed he had been billed, and paid for, the same transaction with a vendor twice. Additionally, he noted when a former vendor, a friend of his, called and asked about the unexpected check that ended up in their mail. The vendor reminded Willie they hadn’t done work for them in quite some time and were definitely not late on any payments.

These errors were some time apart, so Willie didn’t take too much notice at first. It was a bit annoying, but he chalked it up to his rapidly growing business.  Initially, they weren’t red flags to him because in his mind, these “little yellow flags” weren’t major issues, just unsettling when he considered them.

However, some time later when he mentioned these items to a former business associate, the response prompted further investigation into the practices of his accounting department. With the right attorney, asking the right questions and reviewing the right documents, Willie was able to find and understand the criminal acts that his accounting exec was committing. Furthermore, he realized that had his company continued to head down their given path, he himself would be criminally liable for many actions taken.

The flags he had once seen as yellow, led to red flags and could have eventually led to jail time. What started out as a simple mistake eventually turned out to be simply white collar crimes.

Let Us Keep You from Jail Time

Finding accounting irregularities can be a small indication that your accountant is currently or likely to consider committing fraud. Hiring the right Fraud Defense Attorney can help prevent a lawsuit or jail time for you. You want an attorney who know what to look for and how to help ensure you aren’t punished for your accountant’s criminal pursuits.

Don’t waste another moment. Contact Morrison Law Firm, LLC (913) 780-6666 to schedule a free consultation. We’ll confidently walk you through your options and help you investigate any area of your business you find suspicion in.

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One of the most well-known cases of insider trading in recent history is that of Home Decorating, Cooking, and all things domestic icon Martha Stewart. Reportedly Stewart was warned ahead of the collapse of one of the companies she had invested in to sell off her shares. The broker who had warned Stewart had “inside” knowledge of the impending collapse and she took his advice selling all 3,928 shares saving herself from a $45,673 loss on her investment. Unfortunately, because of her arrest and conviction in her participation in “insider trading” her billion dollar company has suffered more than that amount in loss and reputation.

What is Insider trading?

Generally speaking insider trading refers to buying and selling securities while in possession of nonpublic information about said security. In the case of Martha Stewart, she was able to sell her securities before the public knew of the company’s impending downfall and subsequent stock loss.

Insider trading laws have been in place since 1934 after the stock market crash of 1929. It has evolved over time but the laws are regulated by the US Securities Exchange Commission (SEC) that makes sure investors are not victims of fraud.

Who can be convicted of insider trading?

Both the “tipper”, the person with inside information, and the “tipped” the person receiving insider information can be in violation of insider trading laws when the action of buying or selling is done as a result of such information.

Who is an insider?

An insider can include officers, directors, stockholders, and employees of an entity whose securities are publically traded. These people are privileged to certain information that the public may not be privy to and are not allowed to trade securities for personal gain with nonpublic information. Insiders are also not allowed to disclose nonpublic information to anyone else such as family, friends, business or social acquaintances, etc. so that they aren’t able to benefit from such information. Insider’s families must also comply with insider trading laws.

What are the penalties for insider trading?

Some people may think that white collar crimes are “victimless” but they are not and they hold severe criminal, civil, and monetary penalties. The maximum prison sentence for an insider trading violation is 20 years in prison. The maximum fine for individuals is 5 million dollars.

Being charged with Insider trading is a very serious thing and needs representation immediately. The Morrison Law Firm understands what is needed to defend white collar allegations and is available to review your case. Call (913) 780-6666 or send an e-mail to schedule a free consultation. We are located in Olathe and serve people from the Johnson County area.

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Business to business bribery is also known as commercial bribery. It occurs daily across the globe. It’s more pervasive and overlooked in some countries than others. It can involve anything from international corporations down to small businesses operating in the same city. It’s a form of corruption not involving government officials that can operate to give a business an unfair advantage.

Federal law

There are no federal statutes specifically prohibiting business to business bribery. It does appear to fall under the purview of other broad statutes like mail or wire fraud, and it can be prosecuted accordingly. Those involved can be charged as either the givers or the takers.

Kansas commercial bribery

Commercial bribery is specifically addressed as a state charge in KSA 21-4405. It prohibits the solicitation, offer or acceptance of any benefit to or by anybody engaged in commercial activities, including disinterested adjudicators or referees. The giving or taking of a commercial bribe is a felony.

Kansas sports bribery

Sports bribery in the form of influencing or attempting to influence a sports contest might also be included as a form commercial bribery. The giving and taking of a sports bribe is specifically defined and prohibited in the context of participants and officials in KSA 21-4406-4407. Giving a sports bribe is a felony. Taking a sports bribe is a misdemeanor.

Kansas Racketeering

If a person is charged with either commercial or sports bribery in Kansas, they might also be expected to be charged with racketeering under KSA 21-4401. The racketeering statute contemplates obtaining or attempting to obtain an unfair business advantage by demanding or soliciting anything of value, manipulating prices or offering protection from violence or damage to property. Racketeering is a felony.

We’re a quality and well established criminal defense firm. We genuinely care about our clients’ futures. If you’ve been charged with a crime or think you might be charged in the immediate future, call us at (913)780-6666 or contact Paul Morrison. No matter how challenging the case, we’re always here to protect your rights. When you’re with the Morrison Law Firm, you’re never in it alone.

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