Restitution: asset seizures: fraud and embezzlement.

Existing law provides for enhanced penalties in the case of a person who commits 2 or more related felonies, a material element of which is fraud or embezzlement, which involve a pattern of related felony conduct, and the pattern of related felony conduct involves the taking or loss of more than $100,000, and further provides that assets or property may be preserved by the court, as specified, in order to pay restitution and fines imposed in connection with those enhanced penalties. This bill would, in addition, provide for the preservation of assets and property by the court in order to pay all restitution and fines, and would apply those preservation of assets provisions in the case of a person who commits a single felony, a material element of which is fraud or embezzlement, if that conduct involves the taking or loss of more than $100,000. By expanding the scope of restitution provisions for crimes, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.