Misapplication of Fiduciary Property or Property of Financial Institution
Chapter 32 of the Texas Penal Code defines offenses relating to fraud.
“Misapplication of Fiduciary Property or Property of Financial Institution”, as per § 32.45 of the Texas Penal Code, occurs when a person intentionally, knowingly, or recklessly misapplies property he holds as a fiduciary or property of a financial institution in a manner that involves substantial risk of loss to the owner of the property or to a person for whose benefit the property is held.
An offense under this section is:
- a Class C misdemeanor if the value of the property misapplied is less than $100;
- a Class B misdemeanor if the value of the property misapplied is $100 or more but less than $750;
- a Class A misdemeanor if the value of the property misapplied is $750 or more but less than $2,500;
- a state jail felony if the value of the property misapplied is $2,500 or more but less than $30,000;
- a felony of the third degree if the value of the property misapplied is $30,000 or more but less than $150,000;
- a felony of the second degree if the value of the property misapplied is $150,000 or more but less than $300,000; or
- a felony of the first degree if the value of the property misapplied is $300,000 or more.
An offense described for purposes of punishment by Subsections (c)(1)-(6) is increased to the next higher category of offense if it is shown on the trial of the offense that the offense was committed against an elderly individual as defined by Section 22.04.
Punishment Range
Misdemeanor C
- Fine not to exceed $500
Misdemeanor B
- Confinement in jail for a term not to exceed 180 days
- Fine not to exceed $2,000
- Both such fine and confinement
Misdemeanor A
- Confinement in jail for a term not to exceed one year
- Fine not to exceed $4,000
- Both such fine and confinement
State Jail Felony
- Confinement in a state jail for not more than two years and not less than 180 days
- In addition to confinement, may receive a fine not to exceed $10,000
Third Degree Felony
- Imprisonment in the institutional division for not more than 10 years or less than two years
- In addition to imprisonment, may receive a fine not to exceed $10,000
Second Degree Felony
- Imprisonment in the institutional division for not more than 20 years or less than two years
- In addition to imprisonment, may receive a fine not to exceed $10,000
First Degree Felony
- Imprisonment in the institutional division for life, or
- Imprisonment in the institutional division for not more than 99 years or less than five years with the exception of aggravated sexual assault, which adds a 25-year minimum punishment if the victim is younger than 6, or younger than 14 and the offense contained threats of serious bodily injury or death, or use of a deadly weapon
- In addition to imprisonment, may receive a fine not to exceed $10,000