When people face difficult periods in their life, they may turn to participate in illegal actions with the belief that it can solve their problems. Larceny is a form of theft that is committed by individuals. There are two different forms of larceny: petit larceny and grand larceny. The differences between these two forms of theft are dependent on the amount of property that is stolen. The amount that is stolen is determined by the value, or the cost of the items, that was stolen. Larceny is a criminal offense. When a person is charged, they can be facing very serious consequences.
A person may be charged with petit larceny if the property is valued less than grand larceny. To be charged, the property is valued at $1,000 or less. This classifies petit larceny as a Class A misdemeanor. Because of this, they may face fines that do not exceed more than what they stole, which means it should not exceed $1,000. In addition to this, a person charged with petit larceny may face the possibility of up to a year in jail.
Grand larceny is a different charge than petit larceny. This category is for individuals who steal items of high value. Depending on the circumstances, grand larceny charges can vary from charges in the fourth degree to charges in the first degree.
When a person is charged with grand larceny in the fourth degree, they stole property that was valued between $1,000 and $3,000. In the state of New York, this is a Class E felony. The penalties for this theft may include the possibility of jail time up to four years, fines that do not exceed $5,000 or double the offender’s gain from the crime they committed.
If a person commits grand larceny in the third degree, it means they stole property valued between $3,000 and $50,000. This is a Class D felony. Consequences for this crime may include jail time up to seven years. For theft exceeding the value of $50,000 but less than $1 million, it is considered grand larceny in the second degree. This is classified as a Class C felony with the possibility of jail time up to 15 years.
For grand larceny in the first degree, offenders must have stolen property that is valued at $1 million or more. This is considered a Class B felony in the state of New York. When this crime is committed, the individual can face up to 25 years in jail.
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