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RGMacEsq
RGMacEsq, Attorney
Category: Business Law
Satisfied Customers: 16099
Experience:  Licensed Texas General Practice Attorney
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What is the statute of limitations for misappropriation of funds? Peak Building had an em

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What is the statute of limitations for misappropriation of funds? Peak Building had an employee who used the business credit card for personal use without the knowledge of Peak Building The employee gave the card to her brother in law who subsequently had 10,000.00 wired into his personal account. He then continued to max the card out to it's $25,000.00 limit. The card was issued in the state of North Carolina.

RGMacEsq :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.

RGMacEsq :

Misappropriation of funds / embezzlement / etc... are all wrapped up into "theft" charges, and in North Carolina, there is no statute of limitation on felony theft. North Carolina does not have any statutes of limitations for felony cases.There is therefore no limitation on when a person can be charged for criminal embezzlement. For civil embezzlement, however, the statute of limitation depends on how the plaintiff classifies his injury. Embezzlement will likely fall under fraud or injury to personal property; both of these causes of action must be brought within three years of the injury.

Customer:

So could we technically consider this criminal embezzlement? Or at least try?

RGMacEsq :

Yes. It's theft, at least, and at that sum would be felonious.

Customer:

Great! How do I proceed?

RGMacEsq :

For a crime, you would need to contact the police in the area where the crime occurred. Only the police / prosecutor in the area has the ability to file criminal charges (although you can "press" charges, which merely means that you indicate a desire that they file charges and prosecute).

Customer:

So would charges be brought against both the Peak Building employee as well as the brother in law?

RGMacEsq :

If the Peak Building employee knew that the use was unauthorized and done with the intent to defraud the company, then that employee could be prosecuted as well as the brother in law.

Customer:

Yes she knew. The brother in law began trying to pay off the card and even went as far as calling the credit card company and saying he was accounts payable for Peak Building. He then had the credit card mailing address changed to his home address. This would be intent to defraud the company, correct?

RGMacEsq :

It certainly seems that this would be the case for the brother in law, and if the employee knew and joined in, then that would also be intent on her part.

Customer:

So how much information do I need to present to the North Carolina police department to begin this process?

RGMacEsq :

Enough to give them probable cause (more likely than not) that a crime was committed.

Customer:

Um, would the timeline of the credit card and statements suffice?

RGMacEsq :

It could.

RGMacEsq :

Ultimately that's up to the police to determine whether or not to pursue the case in the first place.

Customer:

Especially the $10,000.00 he had wired into his personal account?

RGMacEsq :

But a statement that this was unauthorized and they did not let you know about it, etc... would also help.

Customer:

Got it! Thanks for your help. Have a great day.

RGMacEsq :

My pleasure.If you have any other questions, please let me know. If not, and you have not yet, please rate my answer. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX good luck to you!

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