What are the penalties for criminal fraud?

In New York, the penalties for criminal fraud vary depending on the type of fraud and the amount of financial loss caused. Fraud that involves taking money, goods, or services from a business in an amount of $3,000 or more can be charged with a felony-level grand larceny. If convicted, this carries a maximum penalty of up to 25 years in prison. For fraud that involves taking smaller amounts, such as less than $3,000, the prosecutor may charge a misdemeanor larceny. If convicted, the penalty is up to 1 year in prison. Another possible criminal charge for fraud is grand larceny by false promise. This type of fraud involves taking property with the false promise of returning it at a later time. If convicted, this carries a maximum penalty of up to 4 years in prison. In addition to possible jail or prison time, fraud also carries a fine of up to $5,000 or double the amount of any financial gain a person received from the fraud. Additionally, a person convicted of fraud may be ordered to pay restitution to the victim. Finally, in some cases, a person convicted of fraud may also be required to pay an administrative fee to the state of New York for any financial losses that resulted from their actions. This fee may be as high as $20,000.

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What are the penalties for criminal fraud?

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