Retail Fraud
When we speak about retail fraud, we are talking about shoplifting.
What is the Difference Between Larceny and Retail Fraud?Retail fraud occurs while a store is open for business to the public and an individual alters, transfers, removes, replaces, conceals, or misrepresents the price of the item available to purchase and has the intent to not pay for the property or pay a lesser amount for the item.
There are three different variations of retail fraud. Retail fraud in the first degree is when one steals an item(s) valued over $1,000.00. One faces a maximum punishment of 5 years in prison and/or a $10,000.000 fine for being found guilty of retail fraud in the first degree. Retail fraud in the second degree is when one steals an item(s) valued between $200.00 and $1,000.000. One faces up to 1 year imprisonment for being found guilty of retail fraud in the second degree. Retail fraud in the third degree is when one steals an item(s) valued less than $200.000 in value. One faces the maximum punishment of 93 days in jail for being found guilty of retail fraud in the third degree.