What is Theft?
In accordance to the law, theft is defined as the act of removing an object from its physical position without seeking the knowledge of the owner and with the intention to take permanent ownership from the owner. Theft can take the form of money, services and assets, and it is actionable within three levels of government; federal, local and state.Colorado Springs – Steven T. Rodemer, LLC. The formulations of the theft statutes take cognizance of the values of property taken by the defendant, and the penalties thereafter are assigned on the basis of the property value. Any penalty that the courts award to the defendant would be alongside the orders to the defendant to make restitution to the plaintiffs by repaying the victims for their losses.
Categories of Theft
The USA law recognizes theft in a number of instances. Any theft of property that is valued at $1000 is treated as a misdemeanor. Such offences are termed as petite larceny. Theft that involves a property that has a value of more than $1000 is a much bigger offence termed as grand larceny. Grand larceny is tried in a court of law as a felony. Apart from property value, theft can also be categorized based on the type of property in question as well as the means that the perpetrator used to acquire the property.
In most case, theft crimes occur by use of force or threatening to use force. Example of such is robbery. In some cases identifying robbery might not be a big deal since a bank heist, mugging and carjacking are all classified as robbery. However, sometimes petty theft can escalate to robbery charges. For example, if you shoplift from a store then, you get caught by the security guard of the store and you escaped, that amounts to robbery.
Other classes of theft come in the form of financial crimes such as insurance fraud, embezzlement and forgery. Such offenses are committed by people in the higher ranks who have access to company resources. The perpetrators of financial crimes use other methods other than use of force to commit a crime. Some of the largest crimes that have been recorded in the history of theft fall under the financial crimes. The remedy for theft can consist of jail term, fines, probation all depending on the type of theft, property value and method of acquisition of the property.