Georgia law refers to embezzlement as “conversion.” Regardless of the terminology, though, the state’s laws prohibit people in trusted positions from taking property or money from those who entrusted them.
When those in a fiduciary relationship with clients, such as employees, bankers, legal guardians and accountants misuse the assets they should protect, embezzlement occurs.
What are the elements of embezzlement?
Certain elements must occur in order for the state to charge a person with conversion. Those elements are when a person:
- lawfully acquires someone else’s assets, including leased or rented property
- is legally obligated or agrees to a specific application or use of the assets
- knowingly takes the funds or property for their personal use in violation of the agreement made
How are assets valued in embezzlement cases?
The state values property other than money according to either fair market value, rental charges, and interest on unpaid balances. Evaluations of the market value of property utilize quotes from a comparable building or parcel of land. The price must be the higher of the worth when embezzlement occurred or the value at the time of trial.
If a rental agreement existed on a recovered property that exited throughout the time between the embezzlement and the recovery, Georgia includes those fees in the valuation of the embezzlement. Further, interest accrued on unpaid monthly balances at the present legal rates.
An attorney who previously worked for a government agency may better understand the complexities of white-collar crimes such as embezzlement. If you face embezzlement charges, consider contacting an experienced lawyer to assist you through the complicated criminal court process.