What Is the Statute of Limitations for Embezzlement in Colorado?

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.

Under C.R.S. 18-4-401(2), if a person stands accused of embezzling less than $300, they will typically face a petty offense. Otherwise, Colorado theft law classifies embezzlement crimes like this:

• Embezzled $300 or more but less than $1,000: Class 2 misdemeanor
• Embezzled $1,000 or more but less than $2,000: Class 1 misdemeanor
• Embezzled $2,000 or more but less than $5,000: Class 6 felony
• Embezzled $5,000 or more but less than $20,000: Class 5 felony
• Embezzled $20,000 or more but less than $100,000: Class 4 felony
• Embezzled $100,000 or more but less than $1 million: Class 3 felony
• Embezzled $1 million or more: Class 2 felony

The embezzlement laws in Colorado also have a special provision for public servants. A public servant who knowingly converts public money or public property to their own use commits embezzlement of public property, a Class 5 felony under C.R.S. 18-8-407.

The potential embezzlement penalties in Colorado change depending on whether a person faces a petty, misdemeanor, or felony crime. For offenses committed on or after March 1, 2022 (C.R.S. 18-1.3-503 and 18-1.3-501), and for felonies under C.R.S. 18-1.3-401, here's what these penalties entail:

• Petty offense: Up to 10 days in jail and up to $300 in fines
• Class 2 misdemeanor: Up to 120 days in jail and up to $750 in fines
• Class 1 misdemeanor: Up to 364 days in jail and up to $1,000 in fines
• Class 6 felony: One year to 18 months in prison and $1,000 to $100,000 in fines
• Class 5 felony: One to three years in prison and $1,000 to $100,000 in fines
• Class 4 felony: Two to six years in prison and $2,000 to $500,000 in fines
• Class 3 felony: Four to 12 years in prison and $3,000 to $750,000 in fines
• Class 2 felony: Eight to 24 years in prison and $5,000 to $1,000,000 in fines

Felony sentences also carry a period of mandatory parole, and courts can sentence outside these ranges when aggravating or mitigating circumstances apply.

Those found guilty of criminal charges for embezzling public property in Colorado are also permanently barred from becoming a member of the state's general assembly or holding any other state office of trust or profit (C.R.S. 18-8-407).

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 consultation with an experienced lawyer.