The bill amends the Code of West Virginia by adding a new section, 61-3-61, which establishes definitions and criminal offenses related to theft by conversion. It defines key terms such as "Property," "Personal property," and "Funds," and outlines the circumstances under which a person is guilty of theft by conversion. Specifically, a person commits this offense when they lawfully obtain funds or property under an agreement but then knowingly convert it for their own use, violating that agreement.

The bill also sets forth penalties for theft by conversion, categorizing offenses based on the value of the property involved. Violations involving property valued under $2,500 are classified as misdemeanors, punishable by up to one year in jail and/or a fine of up to $1,000. In contrast, violations involving property valued at $2,500 or more are classified as felonies, with penalties ranging from one to ten years of imprisonment and fines up to $2,500. Additionally, the court is required to order restitution to victims, and it specifies the venues for prosecution based on various factors related to the defendant and the victim.

Statutes affected:
Introduced Version: 61-3-61
Enrolled Version: 61-3-61