The fact that people with crooked characters also start businesses means that business owners can also indulge in fraudulent behaviors.
One major fraudulent behavior that a business owner may likely engage in is embezzlement. So, the answer to the question of whether a business owner can be charged with embezzlement is in the affirmative. Yes, a business owner can be charged for embezzling resources either from the business or from another business.
What is Embezzlement?
Embezzlement can be defined as the misappropriation of funds or the misuse of funds or in simple terms when someone steals money or property from the government or from an organization. In view of that, it will be safe to say the owner of a business can actually steal from the business.
Interestingly, stealing is stealing, and it is a crime in the United States and in all the countries of the world. Whether you steal from your business or you steal monies that belong to shareholders under your care, you have committed a crime and you can be charged for such crime. Now you may want to ask, how is it possible for a business owner to embezzle money from his or her business?
In the United States of America, once a business is registered, the business will be regulated by the government. The government will be interested in how the books of the company are managed and how the company treats its shareholders, investors, and how they handle their tax and other financial transactions et al.
In view of that, if a business owner decides to misappropriate the funds of the company, and he or she is caught, the owner of the business will be charged with embezzlement. If the owner of the business is found guilty, they will be prosecuted accordingly.
It could be a fine or a prison sentence, or it could be both a fine and a prison sentence. They may even be required to refund the money they embezzled or return the properties they stole. The fine and number of years the convicted business owner is expected to serve will be dependent on the severity of the embezzlement and of course, the country, state, or jurisdiction where the crime was committed.
Is Embezzlement Between Partners a Crime?
Based on the earlier definition of embezzlement, embezzlement between partners is a crime especially if it is a business partnership.
Even if it is a romantic partnership, once a partner embezzles the finance or property of the collective, the victim of the embezzlement has the right to charge the partner that embezzled the finance or property to court, and it becomes a crime.
The only reason why it will not be a crime is when the other partner decides not to press any charges since they are in a romantic partnership.
Business Partnership
Yes, embezzlement is a crime when it involves business partners. It means that if a partner in a business decides to misappropriate funds or misuse funds or even steal money or property from the business partnership, they have committed a crime and they can be sued.
If the business partner that embezzled the funds or the property is found guilty in court, they will be sentenced accordingly or be mandated to refund the money they stole or return the property they stole.
In conclusion,
Now you know, embezzlement is a crime whether in the United States of America or in any country of the world. So, if you are planning to embezzle funds meant for your company because you are the owner of the business, you just have to think twice and desist from carrying out such acts. If not, you might find yourself serving a prison term.