Embezzlement and money laundering both involve making personal profit off of money or property that is not your own, but the levels of on-site involvement usually vary. Embezzlement often refers to an individual abusing privileged access to goods or money, while money laundering tends to involve a second-party group who transfers money or products for another party, charging a fee for their transfer services.
One of the most famous recent cases of embezzlement involved Bernie Madoff, who embezzled millions of dollars from his own investors. Laundering often involves drug trades and perpetrators tend to work in groups, avoiding solely individual participation, though this is not always the case.
Some of the penalties for a conviction of embezzlement or money laundering include:
- Community service
- Large fines
- Jail time