Embezzlement of Money and Transactions
Embezzlement in Greece
Embezzlement is the crime of illegally embezzling (in whole or in part) foreign movable property that has somehow come into one’s possession. In order to commit this crime of violating a legal right to property, the thing (which of course includes money) must have already come into the actor’s possession, and then the actor must embezzle it (i.e., perform an act that only the lawful owner can do).
When is the crime of embezzlement committed?
From the provisions of the Criminal Code as amended in 2019, the conditions under which the crime is established are derived as follows
(Alpha) (a) Criminal Code provision (Article 2.1.1.a): such objects are deemed to be in the possession of a foreign state with respect to the offender, as understood in the Civil Code.
(b) That the foreign object came into the possession of the offender by whatever means and was in his possession at the time of the act.
(c) that the offender unlawfully incorporated it into his property without the consent of the owner or without exercising any other right granted by law
(d) willful intent on the part of the offender, including awareness that the thing is alien and the intention to embezzle it, as manifested by retaining or refusing to deliver it to the owner. Possession (in the crime of embezzlement, which is instantaneous) means the externalization of an act or omission that manifests the perpetrator’s intention to incorporate the foreign chattel into his property, and the time of commission of the offense not subject to appeal is, according to Article 17 of the Grand Chamber, the time of such an act, i.e., when the perpetrator is visibly time of manifesting, by material act, the intention to illegally embezzle foreign movable property and incorporate it into his own property (AP 26/2017, AP 65/2016).
When does money embezzlement take place?
In cases where the movable property concerns money, which is also an important object of the crime of embezzlement, the acquisition of ownership of the money in the above sense takes place not only by delivery to the offender, but also by an accounting transfer to the offender’s personal account in a bank, where he becomes the beneficiary and acquires the right to withdraw it pursuant to Article 2, paragraph 1 of Law No. 17-7/13.8.1923 “On the Special Provisions for Joint Stock Companies”. Transfer to the joint account provided for in paragraph 1 of Article 1 of Law No. 17-7 of 13.7.1923 “On Special Provisions for Joint Stock Companies”, or in paragraph 1 of Article 1 of Law No. 17-7 of 13.7.1923 “On Special Provisions for Joint Stock Companies”. 1932 Law No. No. 5638, article 1, paragraph 1, item 1; Law No. 951-1 of 1971, the right to withdraw the money deposited without the involvement of the other co-owner, if the perpetrator is a co-owner, based on their legal relationship, or to a third party bank account from which the money deposited by the perpetrator would be withdrawn (CC 258/ 2017)
What is the penalty for embezzlement in Greece?
Basic form
In its basic form, embezzlement is punishable by imprisonment for up to two years.
If the object of the embezzlement is particularly valuable, it is punishable by imprisonment for at least three months and a fine.
If it is an object entrusted to the offender out of necessity or because of his position as trustee, guardian, or custodian of the person concerned, or as escrow agent or trustee of foreign property, the offender is liable to imprisonment for at least one year and a fine.
Felony embezzlement
If the value of the object exceeds the total amount of one hundred and twenty thousand (120,000) euros, the offender shall be punished with imprisonment of up to ten (10) years and a fine.
Embezzlement against the State
If the embezzlement is directed against a Greek public sector legal entity, a legal entity under public law, or a local public entity, and the value of the object exceeds a total of EUR 120,000, the penalty is imprisonment for at least 10 years and a fine not exceeding 1,000 units per day.
The term of limitation of the offense shall be 20 years.
Will the act go unpunished?
If the embezzlement is small, a fine or community service may be imposed.
However, if the act was committed out of a need to immediately use or consume the object of the theft or embezzlement, the court may find that the act is not punishable.
What is the time limit for filing charges (criminal complaints) for embezzlement?
Criminal charges for embezzlement must be filed by the offender within three months. Special care should be taken to file the charges within the time limit, since the perpetrator will be acquitted if it is proven that the victim knew of the crime before the crime was committed but did not file the charges.
Embezzlement against the state does not require prosecution and is subject to a 20-year limitation period.
What is the relationship between embezzlement and fraud?
There is an obvious confluence between fraud and embezzlement:
If the perpetrator embezzles foreign chattels and attempts to commit fraud to conceal the embezzlement or to retain the embezzled property, fraud is an unpunishable offense,
If the offender fraudulently acquires the embezzled foreign personal property, embezzlement is an unpunishable offense.
If a defendant is charged with fraud, it is impermissible to convict the defendant of embezzlement.
The law office of Economou and Economou in Athens can undertake your legal support by having the best criminal law lawyers for embezzlement in Greece in cases of financial offences, especially embezzlement:
The most common types of embezzlement cases in Greece and abroad, including legal services in the field of embezzlement and financial crimes.
Handling the Defendant’s defense at all stages
Claiming compensation & reparation of damages
If you are looking for the best criminal defense embezzlement lawyers of Economou & Economou law office in Athens Greece, you can contact our law office in Athens by email: econlaw@live.com , by phone at (+30)2103603824 or fill the contact form in order to get the legal support you need.
