THEFT, FRAUD, AND FINANCIAL CRIME
WHAT IS THEFT?
Theft occurs when a person dishonestly takes property belonging to another with the intention of depriving the owner of it either permanently or temporarily. Moving something which a person plans to steal or take is also considered theft. Section 322(1) of the Criminal Code defines the offence of theft. It creates two possible charges:
- Theft Under $5000
- Theft Over $5000
The Criminal Code contains a number of specific theft offences. Some of these offences include:
- Fraud
- Identity Theft & Identity Fraud
- “Joyriding” a Motor Vehicle
- Possession of Stolen Property
- Forgery & Uttering Forged Documents
- False Pretences (e.g. knowingly passing a bad cheque)
- Credit Card Offences
- Counterfeiting Offences
- Money Laundering
- Proceeds of Crime
WHAT IS POSSESSION OF PROPERTY OBTAINED BY CRIME?
The offence of property obtained by crime is made up of two parts.
First, a person charged with this offence must be in possession of property that was (or was partly) gained by theft, fraud, or any other crime. Being in possession means that the person is able to exercise some degree of control over it, even if the original owner cannot be found or no owner can be identified.
Second, the person must have known that the property was stolen or gained by fraud. Also, if the Crown can show that it was obvious that a reasonable person would have thought the property was stolen and the accused failed to investigate whether it was stolen or not, he or she can be found guilty of possession of stolen property.
Even if you did not actually know that something was stolen, you can be guilty of possession of stolen property if you were “reckless” or “willfully blind” about whether it was stolen.
Where the act of theft and the possession of stolen goods are done at the same time, the person cannot be convicted of illegal possession of the same things they stole. The punishment of being found guilty of this offence is the same as for fraud.
WHAT IS FRAUD?
The offence of fraud is described as acting dishonestly with the goal of depriving any person. An example of this occurs when a person has switched the price tags on two items. Although in this situation people are often charged with theft, a person could also be charged with fraud. Section 380 of the Criminal Code defines the offence of fraud. This section creates two possible charges:
- Fraud over $5000 or involving a testamentary instrument and
- Fraud under $5000.
A testamentary instrument is either a will or a legal trust which a person has set up so that his possessions will be given to family and friends once he or she has died.
WHAT ARE THE CONSEQUENCES OF A CONVICTION?
Possible punishments for theft, fraud, and financial related crimes are wide-ranging and will depend on the seriousness of the allegation and the background of the accused. For example, sentences for theft and fraud can range from probation, to fines, to “house arrest,” all the way to a maximum punishment of ten to fourteen years in jail.
Other serious consequences may involve a criminal record, loss of employment, inability to travel to certain countries, court ordered restitution, revocation and/or suspension of professional designations (e.g. teachers, medical professionals, real estate agents), as well as serious immigration consequences.
To gain a better understanding of the consequences you may be facing, it is imperative to seek advice from an experienced criminal lawyer who will help protect your rights. Contact us for a free initial consultation.