Wisconsin Embezzlement Laws: Theft, Forgery and Penalties (2026)

Chapter 943 of the Wisconsin Statutes, which holds the state's property crimes, has no offense named embezzlement. An officer, employee, trustee or bailee who misuses money or negotiable paper held because of that role commits theft under Wis. Stat. 943.20(1)(b), and it is graded by value like any other theft: a Class A misdemeanor at $2,500 or less and generally a felony above $2,500, up to a Class F felony above $100,000 (943.20(3)). Forgery and uttering a forged writing are each Class H felonies punishable by up to 6 years (943.38). For other states, see our guide to embezzlement and forgery laws by state.

Information last verified on 2026-10-18. This article has not been reviewed by a licensed lawyer.

Jurisdiction scope: This article covers the Wisconsin statutes on embezzlement-type theft (943.20, with its value, repeat-offense and aggregation rules in 943.20 and 971.36), financial-institution crimes (943.80 to 943.92), public-officer offenses (946.12 to 946.14, 946.72, 17.03(5), Wis. Const. art. XIII, s. 3), forgery and related fraudulent-writing offenses (943.37 to 943.41, 943.60, 946.77, 946.79), worthless checks (943.24), contractor trust funds (779.02(5)), the civil theft remedy (895.446), restitution (973.20), the elder-victim penalty increase and asset freeze (939.623, 971.109), racketeering (946.82 to 946.84), limitation periods (939.74) and the felony and misdemeanor classes. It does not cover the full theft and retail-theft table (see Wisconsin theft laws), identity theft, scams and victim reporting, federal offenses, or local ordinances.

What is embezzlement in Wisconsin?

Wisconsin folds embezzlement into its single theft statute. The embezzlement clause, Wis. Stat. 943.20(1)(b), reaches a person who:

"(b) By virtue of his or her office, business or employment, or as trustee or bailee, having possession or custody of money or of a negotiable security, instrument, paper or other negotiable writing of another, intentionally uses, transfers, conceals, or retains possession of such money, security, instrument, paper or writing without the owner's consent, contrary to his or her authority, and with intent to convert to his or her own use or to the use of any other person except the owner."

Two features separate this clause from ordinary theft. First, the person must already hold the money or paper because of an office, business, employment, trusteeship or bailment. Second, the clause covers only money and negotiable writings (checks, securities and similar paper). Taking or keeping other movable property of another, "without the other's consent and with intent to deprive the owner permanently of possession of such property," is the general theft clause in 943.20(1)(a). Both clauses open with "Whoever does any of the following may be penalized as provided in sub. (3)," so they share one penalty ladder.

Refusing to hand the money over on demand

The same paragraph sets an evidentiary rule. Under 943.20(1)(b), "A refusal to deliver any money or a negotiable security, instrument, paper or other negotiable writing, which is in his or her possession or custody by virtue of his or her office, business or employment, or as trustee or bailee, upon demand of the person entitled to receive it, or as required by law, is prima facie evidence of an intent to convert to his or her own use within the meaning of this paragraph."

Contractors who divert construction money

Wisconsin's construction lien law treats some misuse of construction funds as theft. Under Wis. Stat. 779.02(5), use of such moneys by a prime contractor or subcontractor "for any other purpose until all claims, except those which are the subject of a bona fide dispute and then only to the extent of the amount actually in dispute, have been paid in full or proportionally in cases of a deficiency, is theft by the prime contractor or subcontractor of moneys so misappropriated and is punishable under s. 943.20." When the contractor is a corporation, LLC or other entity, the misappropriation "also shall be deemed theft by any officers, directors, members, partners, or agents responsible for the misappropriation."

Is embezzlement a felony in Wisconsin?

Generally, when the value is more than $2,500. Theft under 943.20, including the embezzlement clause, is graded under 943.20(3):

• $2,500 or less: Class A misdemeanor (943.20(3)(a)).
• More than $2,500 up to $5,000: Class I felony (943.20(3)(bf)).
• More than $5,000 up to $10,000: Class H felony (943.20(3)(bm)).
• More than $10,000 up to $100,000: Class G felony (943.20(3)(c)).
• More than $100,000: Class F felony (943.20(3)(cm)).

"Value," for this section, means "the market value at the time of the theft or the cost to the victim of replacing the property within a reasonable time after the theft, whichever is less." For a document evidencing a chose in action or other intangible right, value is the market value of that right or the intrinsic value of the document, "whichever is greater" (943.20(2)(d)). The theft-wide tiers, including retail theft, are on our Wisconsin theft laws page.

Two rules can make a smaller amount a felony: the repeat-violation rule added in 2026 and the rule for victims who are individuals at risk, both below.

Prior theft convictions (2025 Wisconsin Act 106)

2025 Wisconsin Act 106 created a repeat-violation rule in 943.20(3g):

"A person who is charged with a misdemeanor under sub. (3) (a) may be charged with and convicted of a Class I felony if the person has one or more prior convictions for a violation under sub. (3) (a) to (cm) or s. 943.50 (4) (a) to (c). A person who is charged with a felony under sub. (3) (bf) to (cm) may be charged with and convicted of a felony that is one classification higher than the felony classification provided in sub. (3) if the person has one or more prior convictions for a violation under sub. (3) (a) to (cm) or s. 943.50 (4) (a) to (c)."

The prior convictions that count are theft convictions under 943.20(3)(a) to (cm) and retail-theft convictions under 943.50(4)(a) to (c). Act 106 was enacted March 20, 2026, published March 21, 2026, and took effect March 22, 2026. Its applicability section says it "first applies to violations committed on the effective date of this subsection, but does not preclude the counting of other convictions of s. 943.20 (3) (a) to (cm) or 943.50 (4) (a) to (c) as prior convictions for purposes of sentencing a person." So the new rule reaches offenses committed on or after March 22, 2026, while convictions from before that date can still count as priors.

Separately, the general repeater statute, 939.62, applies when the person "was convicted of a felony during the 5-year period immediately preceding the commission of the crime for which the actor presently is being sentenced, or if the actor was convicted of a misdemeanor on 3 separate occasions during that same period, which convictions remain of record and unreversed." Time the person spent in actual confinement serving a criminal sentence is excluded when counting the 5 years (939.62(2)). For a crime whose maximum is more than one year but not more than 10 years, the maximum "may be increased by not more than 2 years if the prior convictions were for misdemeanors and by not more than 4 years if the prior conviction was for a felony" (939.62(1)(b)).

Adding up repeated takings

Act 106 also added an aggregation rule. Under 943.20(5), "For purposes of charging and penalty determinations under sub. (3) (a) to (cm), the value of property from multiple violations committed in the same prosecutorial unit by the same person during a course of conduct, as defined in s. 947.013 (1) (a), may be aggregated."

An older procedural rule fits the embezzlement pattern directly. Under 971.36(3), "In any case of theft involving more than one theft, all thefts may be prosecuted as a single crime if one of the following applies: (a) The property belonged to the same owner and the thefts were committed pursuant to a single intent and design or in execution of a single deceptive scheme. (b) The property belonged to the same owner and was stolen by a person in possession of it." Act 106 added 971.36(5): "In any case involving aggregated acts under s. 943.20 (5) or 943.50 (6), notwithstanding sub. (3), the acts may be prosecuted as a single crime."

Theft from older adults and individuals at risk

Wisconsin has no separate criminal offense of elder financial exploitation; the theft statute carries the victim-based rule. Under 943.20(3)(d)6., a theft is a Class H felony, even when the value would otherwise make it a misdemeanor or Class I felony, if "The property is taken from a patient or resident of a facility or program under s. 940.295 (2) or from an individual at risk." The higher value tiers (Class G above $10,000, Class F above $100,000) are separate paragraphs of the same subsection.

"Individual at risk" means "an elder adult at risk or an adult at risk" (943.20(2)(ae)). An "elder adult at risk" is "any person age 60 or older who has experienced, is currently experiencing, or is at risk of experiencing abuse, neglect, self-neglect, or financial exploitation" (46.90(1)(br)). An "adult at risk" is "any adult who has a physical or mental condition that substantially impairs his or her ability to care for his or her needs" and who has experienced, is experiencing or is at risk of abuse, neglect, self-neglect or financial exploitation (55.01(1e)). Age alone does not trigger 943.20(3)(d)6.; the person must also meet that at-risk condition.

A separate sentencing statute does turn on age. Under Wis. Stat. 939.623, when the victim is 60 or older or an adult at risk, the maximum prison term for any crime for which imprisonment may be imposed "may be increased": to not more than 2 years for a maximum of one year or less, by not more than 4 years for a maximum over one year but not over 10 years, and by not more than 6 years for a maximum over 10 years. It applies to a victim 60 or older "irrespective of whether the defendant had actual knowledge of the crime victim's age," and to an adult at risk "only if the defendant had actual knowledge that the crime victim is an adult at risk." Under 971.109, when a defendant is charged with a crime that is financial exploitation involving property valued at more than $2,500 and the victim is 60 or older or an adult at risk, a prosecutor may petition the court to freeze the defendant's funds, assets or property. The abuse-of-individuals-at-risk statute, 940.285, contains no property or financial-exploitation provision. For warning signs and where to report, see our guide to elder financial fraud.

Public officers and public money

The criminal code has no flat-felony public-funds embezzlement section. A public officer or employee who misuses money held "by virtue of his or her office ... or employment" falls within 943.20(1)(b) and its value ladder. Chapter 946 adds several Class I and Class H felonies for public officers and employees.

• Misconduct in public office (946.12), Class I felony. The listed acts include exercising "a discretionary power in a manner inconsistent with the duties of the officer's or employee's office or employment or the rights of others and with intent to obtain a dishonest advantage for the officer or employee or another" (946.12(3)); making an account or record entry, return, certificate, report or statement "which in a material respect the officer or employee intentionally falsifies" (946.12(4)); and, under color of office, intentionally soliciting or accepting for a service or duty "anything of value which the officer or employee knows is greater or less than is fixed by law" (946.12(5)).
• Private interest in a public contract (946.13), Class I felony. The section does not apply to contracts "that do not involve receipts and disbursements by the state or its political subdivision aggregating more than $15,000 in any year" (946.13(2)(a)).
• Purchasing claims against public funds (946.14), Class I felony. This covers an officer or employee who "intentionally purchases for less than full value or discounts any claim held by another against the state or a political subdivision thereof or against any public fund."
• Tampering with public records (946.72(1)), Class H felony. "Whoever with intent to injure or defraud destroys, damages, removes or conceals any public record is guilty of a Class H felony."

Loss of office

A conviction can end a term of office. Under Wis. Stat. 17.03(5), an office becomes vacant when, "Whether or not sentenced to imprisonment, the incumbent is convicted and sentenced by a state or federal court for treason, felony or other crime of whatsoever nature punishable by imprisonment in any jail or prison for one year or more, or for any offense involving a violation of the incumbent's official oath. A vacancy so created is not affected by a stay of execution of judgment." Under the same subsection, "Reversal of the judgment, but not a pardon, immediately restores the incumbent to office if the term has not expired."

The Wisconsin Constitution adds a lasting bar. Under article XIII, section 3(2), "No person convicted of a felony" (or of a misdemeanor designated as a violation of public trust) "shall be eligible to any office of trust, profit or honor in this state unless pardoned of the conviction," and section 3(3) bars placing that person's name on a ballot for state or local elective office unless pardoned.

Chapter 40, which governs the Wisconsin public employee trust fund, contains no provision that forfeits retirement benefits on a criminal conviction. It does allow restitution to be taken from them: under 973.20(2)(bm) and 40.08(1t), a restitution order may require the Department of Employee Trust Funds to withhold restitution from the defendant's annuity or lump sum if "The crime was a violation of ss. 943.20 and 946.12," the crime caused a loss of property for the defendant's employer that participates in the Wisconsin Retirement System, and the value of that property "exceeds $2,500."

Banks and other financial institutions

Chapter 943, subchapter IV, has its own offenses for crimes against financial institutions. Theft from a financial institution, 943.81, reaches "Whoever knowingly uses, transfers, conceals, or takes possession of money, funds, credits, securities, assets, or property owned by or under the custody or control of a financial institution without authorization from the financial institution and with intent to convert it to his or her own use or to the use of any person other than the owner or financial institution." It is graded by value under 943.91: a Class A misdemeanor up to $500 (a Class I felony with a qualifying prior conviction), Class H above $500 up to $10,000, Class G above $10,000 up to $100,000, and a Class E felony when the value "exceeds $100,000" (943.91(5)).

The subchapter also makes these Class H felonies: bribery of a financial institution employee or fiduciary (943.85), falsely claiming to represent a financial institution (943.82(2)), interfering with an automated teller machine (943.825), and mail fraud (943.89) and wire fraud (943.90) for the purpose of committing a financial crime. Fraud against an institution (943.82(1)), loan fraud (943.83) and transfer of encumbered property (943.84) use the 943.91 value tiers.

Two provisions reach repeat financial crimes. Under 943.88, "Whoever commits 3 or more financial crimes within an 18-month period is guilty of a Class E felony" when, among other conditions, "Each of the crimes is committed in concert with a person whom the actor supervises, organizes, finances, or manages." And 943.92 raises the maximum for a third or later financial crime within 18 months; for example, "A maximum term of imprisonment of one year or less may be increased to not more than 2 years."

Felony theft (943.20(3)(bf) to (e)), forgery and the related writing offenses (943.38 to 943.40), the financial-institution crimes and misconduct in public office (946.12) are also listed as "racketeering activity" (946.82(4)). A "pattern" means at least 3 related incidents, the last occurring "within 7 years after the first" (946.82(3)). Using such a pattern to acquire or maintain an interest in or control of an enterprise, or to conduct an enterprise, violates 946.83 and is a Class E felony (946.84(1)), with an alternative fine of up to 2 times the gross value gained or loss caused (946.84(2)).

What is forgery in Wisconsin?

Forgery is defined by Wis. Stat. 943.38(1):

"(1) Whoever with intent to defraud falsely makes or alters a writing or object of any of the following kinds so that it purports to have been made by another, or at another time, or with different provisions, or by authority of one who did not give such authority, is guilty of a Class H felony: (a) A writing or object whereby legal rights or obligations are created, terminated or transferred, or any writing commonly relied upon in business or commercial transactions as evidence of debt or property rights; or (b) A public record or a certified or authenticated copy thereof; or (c) An official authentication or certification of a copy of a public record; or (d) An official return or certificate entitled to be received as evidence of its contents."

The grade does not depend on the dollar amount. A writing that "purports to have been made ... by authority of one who did not give such authority" is one of the listed forms of a false making. For the victim side of forged and washed checks, see our guide to mail theft and check washing.

Uttering and possessing a forged writing

Under 943.38(2), "Whoever utters as genuine or possesses with intent to utter as false or as genuine any forged writing or object mentioned in sub. (1), knowing it to have been thus falsely made or altered, is guilty of a Class H felony." Possession is covered only with that intent to utter.

Lesser forgeries (Class A misdemeanors)

Section 943.38(3) makes it a Class A misdemeanor, with intent to defraud, to falsely make or alter writings "of a kind commonly relied upon for the purpose of identification or recommendation," membership cards "purporting to be that of a fraternal, business or professional association or of a labor union," and several other listed items, including common-carrier tickets, title abstracts and antiques.

Related fraudulent-writing offenses

• Fraudulent writings (943.39), Class H felony. With intent to injure or defraud, a director, officer, manager, agent or employee of a corporation or LLC who "falsifies any record, account or other document belonging to that corporation or limited liability company by alteration, false entry or omission," or publishes a written statement about it known to be false; a person who "By means of deceit obtains a signature to a writing which is the subject of forgery under s. 943.38 (1)"; or a person who "Makes a false written statement with knowledge that it is false and with intent that it shall ultimately appear to have been signed under oath" (943.39(3)).
• Destroying corporate books or a forgery-subject writing (943.40), Class H felony. With intent to defraud, a person who "Destroys or mutilates any corporate books of account or records" or "Completely erases, obliterates or destroys any writing which is the subject of forgery under s. 943.38 (1) (a)."
• Forged recordings related to a conveyance (946.77), Class I felony. "Whoever knowingly provides to a register of deeds for recording any forged document relating to a conveyance, as defined in s. 77.21 (1), is guilty of a Class I felony." Multiple violations under a single intent and design may be prosecuted as a single crime (971.368). 2025 Wisconsin Act 234 created this section.
• Fraudulent insurance and employee-benefit claims (943.395). A Class A misdemeanor "if the value of the claim or benefit does not exceed $2,500" and a Class I felony "if the value of the claim or benefit exceeds $2,500." 2025 Wisconsin Act 145 added worker's compensation applications in 943.395(1)(e).
• Other sections in the chapter: fraudulent data alteration (943.392, Class A misdemeanor), alteration of property identification marks (943.37, Class A misdemeanor), financial transaction card crimes (943.41), criminal slander of title (943.60, Class H felony) and falsifying identity in financial transaction information (946.79(2), Class H felony).

Wisconsin embezzlement and forgery offenses and penalties

The class ranges are set by Wis. Stat. 939.50(3) for felonies and 939.51(3) for misdemeanors, and each is a maximum: a Class A misdemeanor carries "a fine not to exceed $10,000 or imprisonment not to exceed 9 months, or both"; Class I up to $10,000 or 3 years and 6 months; Class H up to $10,000 or 6 years; Class G up to $25,000 or 10 years; Class F up to $25,000 or 12 years and 6 months; and Class E up to $50,000 or 15 years, in each case "or both." Probation is available under 973.09(1)(a) "Except as provided in par. (c) or if probation is prohibited for a particular offense by statute"; none of the theft, forgery or financial-institution sections on this page prohibits it. The repeat-offense rules (943.20(3g), 939.62, 943.92) and the elder-victim increase (939.623) can raise these maximums. At sentencing the court "shall order the defendant to make full or partial restitution" to the victim "unless the court finds substantial reason not to do so and states the reason on the record" (973.20(1r)). The full class table is on our Wisconsin felony and misdemeanor classes page.

Worthless checks

A bad check sits in the same chapter. Under 943.24(1), issuing "any check or other order for the payment of not more than $2,500 which, at the time of issuance, he or she intends shall not be paid" is a Class A misdemeanor. Under 943.24(2), a single check over $2,500, or more than one check "within a 90-day period ... amounting in the aggregate to more than $2,500," issued with that intent, is a Class I felony.

Time limits for prosecution

Wis. Stat. 939.74(1) sets the general periods: a felony prosecution "must be commenced within 6 years and prosecution for a misdemeanor or for adultery within 3 years after the commission thereof." That 6-year period applies to forgery, fraudulent writings and misconduct in public office.

Theft by a person who held the property lawfully has a discovery rule. Under 939.74(2)(b), "A prosecution for theft against one who obtained possession of the property lawfully and subsequently misappropriated it may be commenced within one year after discovery of the loss by the aggrieved party, but in no case shall this provision extend the time limitation in sub. (1) by more than 5 years." The discovery rule is written for theft only. Under 939.74(3), the time "during which the actor was not publicly a resident within this state or during which a prosecution against the actor for the same act was pending shall not be included." Civil filing deadlines are on our Wisconsin statute of limitations page.

Suing for civil theft

A victim can also bring a civil case. Under Wis. Stat. 895.446, a person injured by intentional conduct prohibited by 943.20, 943.24 and other listed sections may sue, and "A conviction ... is not required to bring an action, obtain a judgment, or collect on that judgment." A prevailing plaintiff may recover actual damages, "All costs of investigation and litigation that were reasonably incurred, including the value of the time spent by any employee or agent of the victim," and "Exemplary damages of not more than 3 times the amount awarded" as actual damages. Forgery under 943.38 is not on the section's list. For fraud schemes and where to report them, see our Wisconsin scam and fraud laws page.

Recent changes

• 2025 Wisconsin Act 106 (theft). Enacted March 20, 2026 and published March 21, 2026. It created the prior-conviction rule in 943.20(3g), the course-of-conduct aggregation rule in 943.20(5), and the single-prosecution rule for aggregated acts in 971.36(5). It took effect March 22, 2026 and first applies to violations committed on that date, and earlier convictions can still count as priors.
• 2025 Wisconsin Act 145 (insurance and benefit claims). Enacted March 30, 2026 and published March 31, 2026, and took effect April 1, 2026; it added worker's compensation applications to 943.395(1)(e).
• 2025 Wisconsin Act 234 (forged conveyance recordings). Enacted April 8, 2026 and published April 9, 2026, and took effect April 10, 2026; it created 946.77 and the single-prosecution rule in 971.368.
• 2025 Wisconsin Act 149 (adults at risk). Effective April 4, 2026. It extended the 939.623 penalty increase and the 971.109 asset freeze to adults at risk; the penalty increase applies only when the defendant knew the victim was an adult at risk.

Federal law

Federal law also reaches embezzlement from banks and federal programs and wire or mail fraud schemes; the embezzlement and forgery laws hub covers those statutes.

Related pages

• Embezzlement and forgery laws by state
• Wisconsin theft laws
• Wisconsin felony and misdemeanor classes
• Wisconsin scam and fraud laws
• Wisconsin statute of limitations

This article is general legal information about Wisconsin criminal statutes, not legal advice. For a specific situation, contact a lawyer licensed in Wisconsin.

Last updated: 2026-10-18.

Frequently Asked Questions

Is embezzlement a felony in Wisconsin?

Generally when the value is more than $2,500. Theft under Wis. Stat. 943.20(1)(b) is a Class A misdemeanor at $2,500 or less and a Class I to Class F felony above that. A prior theft or retail-theft conviction (943.20(3g)) or an individual-at-risk victim (943.20(3)(d)6.) can make a smaller amount a felony. If the victim is 60 or older or a known adult at risk, 939.623 also allows a longer maximum prison term.

What is the penalty for embezzlement over $100,000 in Wisconsin?

Theft of more than $100,000 is a Class F felony under 943.20(3)(cm), punishable by up to 12 years and 6 months, a fine up to $25,000, or both (939.50(3)(f)). Theft from a financial institution over $100,000 is a Class E felony, up to 15 years or $50,000 (943.91(5)). A prior theft conviction (943.20(3g)), the repeater statute (939.62) or a victim 60 or older (939.623) can raise these maximums.

What is the difference between embezzlement and theft in Wisconsin?

Both are theft under 943.20 and share one penalty ladder. The embezzlement clause, 943.20(1)(b), applies to someone who already holds another's money or negotiable paper by virtue of an office, business or employment, or as a trustee or bailee; the general clause, 943.20(1)(a), covers taking or keeping movable property of another.

Is refusing to return entrusted money evidence of embezzlement in Wisconsin?

Under 943.20(1)(b), a refusal to deliver money or negotiable paper held by virtue of office, business, employment, trusteeship or bailment, on demand of the person entitled to it or as required by law, is prima facie evidence of an intent to convert.

Is forgery a felony in Wisconsin?

Yes for the main categories. Falsely making or altering a legal-rights, commercial or public-record writing with intent to defraud is a Class H felony under 943.38(1), up to 6 years or $10,000, and uttering it is the same grade (943.38(2)). Forging identification or membership cards and similar items is a Class A misdemeanor (943.38(3)).

Is signing someone else's name on a check forgery in Wisconsin?

Section 943.38(1) covers falsely making a writing, with intent to defraud, so that it purports to have been made by another or by authority of one who did not give that authority.

How long does Wisconsin have to prosecute embezzlement?

Generally 6 years for a felony and 3 years for a misdemeanor (939.74(1)). For theft by someone who held the property lawfully, prosecution may also start within one year after the victim discovers the loss, but no more than 5 years beyond the general period (939.74(2)(b)).

Can an embezzlement victim sue in Wisconsin?

Yes. Under Wis. Stat. 895.446, a person injured by conduct prohibited by 943.20 may sue without a conviction and recover actual damages, investigation and litigation costs, and exemplary damages of up to 3 times actual damages.