As the economy gets rough at times, individuals may face financial troubles. During these times, situations can get tough and people may become desperate. If people are charged with larceny, they may be facing serious penalties. Larceny is a criminal offense and can lead to various consequences based on the value of the stolen possession.
What is petit larceny?
Petit larceny consists of property that is valued at $1,000 or less. It is classified as a Class A misdemeanor. For this offense, individuals may face fines that should not exceed $1,000. There is the possibility of potential jail time for up to a year.
What is grand larceny?
Grand larceny is categorized differently since the items stolen are valued at a higher price. For grand larceny charges in the fourth degree, the property would be valued between $1,000 and $3,000. This is considered to be a Class E felony and has the potential for jail time up to four years. For these penalties, individuals may be faced with fines that are not to exceed $5,000 or double the offender’s gain from the crime.
Grand larceny in the third degree values property between $3,000 and $50,000. This is considered to be a Class D felony and has the potential for jail time up to seven years. In comparison, grand larceny in the second degree is a category for property that is valued between $50,000 and $1 million. Grand larceny in the second degree is classified as a Class C felony. These charges can lead to possible jail time of 15 years in prison.
For grand larceny in the first degree, the value of the property increases. Due to this, the consequences may increase as well. The stolen property is valued at $1 million or more. This is considered to be a Class B felony. There is potential for jail time up to 25 years.
Individuals who are found guilty of any of these offenses may be faced with life-altering consequences. Some penalties can result in heavy fines that may cause financial troubles. Other penalties resulting from these offenses can include jail time that ruins your future. For legal help, it is best to acquire an attorney that has experience with these cases. We can help protect your future.
If you are in need of experienced legal counsel for a criminal defense matter on Long Island or throughout New York State, please contact Grunwald & Seman, P.C. to schedule a consultation and we would be happy to assist you.