According to the FBI, almost 10,000 Americans face embezzlement charges each year. The FBI also reports that more than 300 Coloradoans face embezzlement charges annually. Embezzlement is a highly prevalent white-collar crime in both the U.S. and Colorado.
Do you believe authorities might file embezzlement charges against you soon? If so, you might be asking yourself questions like, “What is the statute of limitations for embezzlement in Colorado?” Find answers to them below.
What Is the Legal Definition of Embezzlement in Colorado?
Before we begin discussing the Colorado embezzlement statute of limitations, make sure you understand the legal definition of embezzlement in Colorado. Embezzlement falls under the theft laws in Colorado. It’s a crime that involves a person in a position of power who is granted access to someone else’s assets and stealing those assets.
A few common forms of embezzlement include:
- Siphoning.
- Check kiting.
- Falsifying payroll records.
Even Ponzi schemes are categorized as embezzlement under Colorado laws.
What Are the Embezzlement Laws in Colorado?
When it comes to embezzlement laws, Colorado authorities always look at the value of the assets allegedly embezzled when deciding whether to charge a person with a petty offense, a misdemeanor, or a felony crime.
If a person stands accused of embezzling up to $50, they will typically face a Class 1 petty offense. Otherwise, Colorado embezzlement laws call for embezzlement crimes to be classified like this:
- Embezzled between $50 and $300: Class 3 misdemeanor
- Embezzled between $300 and $750: Class 2 misdemeanor
- Embezzled between $750 and $2,000: Class 1 misdemeanor
- Embezzled between $2,000 and $5,000: Class 6 felony
- Embezzled between $5,000 and $20,000: Class 5 felony
The embezzlement laws in Colorado also have a special provision for public servants. Anyone accused of embezzling public money and/or public property is automatically charged with a Class 5 felony.
The potential embezzlement penalties in Colorado change depending on whether a person faces a petty, misdemeanor, or felony crime. Here’s what these penalties entail:
- Class 1 petty offense: Up to six months in jail and $500 in fines
- Class 3 misdemeanor: Up to six months in jail and $750 in fines
- Class 2 misdemeanor: Up to one year in prison and $1,000 in fines
- Class 1 misdemeanor: Up to 18 months in prison and $5,000 in fines
- Class 6 felony: Up to 18 months in prison and $100,000 in fines
- Class 5 felony: Up to three years in prison and $100,000 in fines
Those found guilty of criminal charges for embezzlement in Colorado are also usually barred from becoming a member of the state’s general assembly or holding any other public office.
What Is the Statute of Limitations for Embezzlement in Colorado?
While Colorado authorities take embezzlement seriously, there is a statute of limitations for prosecutors in the state to file embezzlement charges. However, the statute of limitations changes based on how much money was allegedly embezzled.
So, what is the statute of limitations for embezzlement in Colorado? It breaks down like this:
- Petty offense: Six months
- Misdemeanor offense: 18 months
- Felony offense: Three years
Just remember the statute of limitations for theft crimes in Colorado, such as embezzlement, doesn’t start until the theft comes to light. Consider hiring a reputable lawyer as soon as you can after that happens.
Hire Us To Handle Your Embezzlement Case in Colorado
Were you recently accused of embezzlement? Whether you’re facing a petty, misdemeanor, or felony charge, Grant & Associates Law Firm can help you navigate your embezzlement case. We can also help you discover more about what embezzlement is by answering questions like, “What is the statute of limitations for embezzlement in Colorado?”
Call us at 970-356-5666 or contact us online to schedule a free consultation with an experienced lawyer.