Criminal Law Questions? Ask a Criminal Lawyer.
Jail time is not likely unless the person is a habitual offender. The most likely result is restitution to the victims, a fine and probation for 12 months.
My suggestion is to talk to the police, but to do so in the presence of an attorney to make sure you cooperate, but not to a fault.
If this a first offense, and restitution can be made, there is a chance to avoid jail time.
There are first time offender programs/pretrial diversion programs to help with this as well.
You should speak to an attorney in your area about speaking to the police and prosecutors on your behalf.