New York has a longstanding reputation of being a hotbed of financial crimes. New York City represents a global financial capital and thus, New York City prosecutors on the state and federal level are particularly sensitive to potential financial crimes being committed. Prosecutors in New York have continued to crack down on financial crimes. This means, that if you are suspected of committing a financial crime, such as grand larceny, you should be prepared to come up against the full resources of the government as they pursue the prosecution of your case.
In New York State, grand larceny occurs when a person is guilty of stealing property valuing over $1,000 or has stolen property that is specifically listed in the New York Penal Code, such as property consisting of a public record or of a credit card or debit card. Depending on the value and nature of the stolen property, grand larceny may be a Class E felony all the way up to a Class B felony for grand larceny in the first degree, when the value of the stolen property exceeds one million dollars. A Class E felony carries a potential sentence of up to four years’ imprisonment and a fine of up to $5,000 or twice the amount the defendant gained from the commission of the theft. Being found guilty of a Class B felony can land you in jail for up to 25 years and facing a fine of up to $30,000.
Grand Larceny as a White Collar Crime
Yes, grand larceny is a white collar crime. Essentially, a white collar crime is a non-violent, financial crime. Other examples of white collar crimes include:
- Securities fraud
- Money laundering
- Embezzlement
- Insurance fraud
- Identity theft
- Bribery
- Tax evasion including the sale of cigarettes that are unstamped
- Public corruption
- Medicaid Fraud and Medicare Fraud
- Possessing or Selling Counterfeit Goods such as bags, jewelry, shoes, clothes, etc.
These types of crimes are financially motivated and can occur on a large or small scale. They are generally considered to be more sophisticated crimes. The phrase “white collar crime” came into existence because most of these crimes, historically, were committed by business professionals.
While white collar crimes are non-violent, for the most part, they are still taken very seriously by New York prosecutors. The potential penalties an alleged perpetrator of such a crime are severe. In addition to the jail time and fines, a person convicted of a white collar crime will carry a stigma around indefinitely. A professional reputation will rarely recover from such a conviction.
Criminal Defense Attorneys
At Heiferman & Associates, our team of dedicated criminal defense attorneys is well versed in handling white collar crime cases. Our white collar criminal defense attorneys possess strong accounting backgrounds that are crucial in defending complex white collar cases. We know the government will do everything in its power to secure a conviction and we are here to mount the strongest possible defense to see to it that this does not happen. Heiferman & Associates is here to fight for you as you face these serious criminal charges. This is the time when you need dedicated legal counsel by your side as soon as possible. Contact us today.