This bill proposes the addition of a new section, designated 61-3-61, to the Code of West Virginia, 1931, which establishes the offense of theft by conversion. The bill defines theft by conversion as the act of lawfully obtaining funds or property under an agreement and then knowingly using that property for personal gain in violation of the agreement. It outlines specific definitions for "Property," "Personal Property," and "Funds," and sets forth the penalties for violations based on the value of the property involved. Offenses involving property valued under $2,500 are classified as misdemeanors, while those involving $2,500 or more are classified as felonies.

Additionally, the bill mandates that courts order restitution to victims in accordance with existing law when sentencing individuals convicted of theft by conversion. It also specifies the venue for prosecution, allowing cases to be tried in the county where the defendant resides, where the victim resides, or where the property is located or the agreement was made. The overall aim of the bill is to create a clear legal framework for addressing theft by conversion and to establish appropriate penalties for such offenses.

Statutes affected:
Introduced Version: 61-3-61