Penalties For Misapplication Of Entrusted Property And Property Of Government Or Financial Institution (N.J.S.A. 2C:21-15)
Unlawfully disposing of property as a fiduciary can put you in serious jeopardy under Misapplication of Entrusted Property and Property of Government or Financial Institution (N.J.S.A. 2C:21-15).
New Jersey law categorizes the conduct as a theft crime, and grades the punishment according to the value of the benefit derived by the actor.
Where the benefit is less than $1,000, you’ll be charged at the fourth degree level and face up to 18 months in prison and a $10,000 fine.
When you derive a benefit less than $75,000, prosecutors will charge you with a third degree crime, and you’ll risk three to five years behind bars and a $15,000 fine.
Finally, when the value of the benefit is more than $75,000, you can go to prison for five to ten years and face $150,000 in fines.
You’ll also face restitution costs, regardless of the amount of the benefit.
Theft and fraud charges can and do destroy lives and careers.
If you’ve been charged for misconduct in a fiduciary role, call Matthew Reisig today at 732-625-9661 for a free consultation.