Being charged with theft results in penalties, fines, and jail terms. In Colorado, several situations can be defined as theft, including retaining a valuable thing for more than 72 hours after the agreed-upon time for return.
If you are charged with a theft felony, you should know the class of your case to make informed decisions. They include:
Class 2 felony
Any theft of a thing whose value is $1 million or more is a Class 2 felony. Punishments include a sentence of 8 to 24 years, $5,000 to $1,000,000 in fines and a mandatory 5-year parole if convicted.
Class 3 felony
Class 3 theft felonies involve properties with values of at least $100,000 but less than $1,000,000. Potential punishments include 4 to 12 years in prison, $3,000 to $75,000 in fines and 5 years mandatory parole upon conviction.
Class 4 felony
If the value of a stolen item is at least $20,000 but less than $100,000, the felony theft charge is in Class 4. This charge has a minimum sentence of 2 years and a maximum of 6 years. Fines range from $2,000 to $500,000. A conviction also has mandatory parole of 3 years.
Class 5 felony
The theft of a thing with a value of at least $5,000 but less than $20,000 is a Class 5 felony. Those charged in this class face 1 to 2 years jail term with 2 years mandatory parole. Fines range between $1,000 and $100,000 if convicted of the charges.
Class 6 felony
Theft of an item with a value of at least $2,000 but less than $5,000 is a Class 6 felony. Punishments are 1 year to 18 months in prison, $1,000 to $100,000 in fine and 1-year mandatory parole when convicted.
Finding reliable solutions when charged with theft is vital. You should also consider your options to protect your finances and reputation.