§ 155.42 Grand Larceny in the First Degree
A person is guilty of grand larceny in the first degree when he steals property and when the value of the property exceeds one million dollars.
Grand larceny in the first degree is a class B felony.
NY PEN Law 155.42 Grand larceny in the first degree. (Laws of New York (2015 Edition))
Grand Larceny 1st Degree P.L. 155.42 Penalties
The most serious charge of grand larceny is Grand Larceny in the First Degree (N.Y.S Penal Law 155.42), which is a class B felony. You can be charged with this offense if you steal property that is valued at over $1,000,000. If convicted of Grand Larceny in the First Degree you can be sentenced up to 25 years in prison. Imprisonment is mandatory with a conviction of this charge.
In addition to the potential for imprisonment that accompanies a conviction of grand larceny in the first degree, there are very serious collateral consequences as well. Criminal background checks have become routine among employers when considering hiring decisions. Theft convictions make receiving job offers extremely difficult and sometimes impossible in certain employment fields. Grand larceny in the first degree is also considered a crime of moral turpitude and can have serious immigration consequences for those that are not United States citizens, including possible deportation.