Today, I received an inquiry from someone interested in finding out what the penalties were for possessing stolen property. As one of the largest criminal defense firms in the state, questions like these are raised all the time, and I thought it might be helpful to publish this post to provide information on this subject.
Possession of stolen property, also termed receiving stolen property, is addressed under N.J.S.A. 2c:20-7 of the New Jersey criminal laws. It criminalizes someone intentionally possessing or controlling property that he knows or reasonably should know is stolen. If the property has a value of less than $200, than a violation is considered a disorderly persons offense. This type of offense is akin to a misdemeanor and can result in fines of up to $1,000 and six months in jail. When the value of the stolen property reaches the $200 threshold, the related charge becomes an indictable offense or felony.
The penalties that apply to felony charges for possessing stolen property hinge on the value of the property. If the value is between $200 but less than $500, the charge is a Fourth Degree crime, that can result in a fine of $10,000 and up to 18 months in jail. The offense is enhanced to a Third Degree crime where the value exceeds $500 but is less than $75,000. A third degree conviction exposes someone to fines of up to $15,000 and jail that can reach 5 years. Stolen property charges involving more than $75,000 are Second Degree crimes, carrying a fine that can reach $150,00 and up to 10 years in prison.
If you would like more information regarding stolen property violations, a lawyer on our team can be reached at (800) 309-5762 to answer your questions. I hope the information was helpful.