Have you been accused of larceny in New York or know someone who has? Do you know what this really means? It is not a term that many people use on a regular basis so it is understandable for defendants to be unclear about what they are being charged with when arrested for some type of larceny.
As explained by the New York Courts, larceny is essentially a form of theft that may involve the taking of anything of value such as cash, other financial assets or personal belongings. As with other types of criminal charges in New York, there are varying degrees of larceny charges. The degree or nature of the charge a person may face may be impacted by the current market value of the item or items allegedly stolen.
Classified as a B Felony, Grand Larceny in the first degree involves property values that exceed $1 million. Grand Larceny in the second degree is a C Felony and this charge may be assessed if the value of items said to be taken is over $50,000 but less than $1 million. Grand Larceny in the third and fourth degrees are D and E Felonies, respectively. The associated financial thresholds for these charges are $3,000 and $1,000, respectively. Petit Larceny is considered a A Misdemeanor offense in New York.
This information is not intended to provide legal advice but is instead meant to give New York residents an overview of the various types of charges associated with charges of larceny and what the term means.