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NY Penal Law § 155.40: Grand Larceny in the Second Degree
Grand larceny in the second degree, NY Penal Law § 155.40, is stealing property worth more than $50,000 (up to $1 million). It also covers extortion by threats of future injury, property damage or abuse of a public position, some large organized retail thefts, and certain deed thefts. On Long Island these are usually embezzlement, contractor, business and elder-financial cases. It is a class C felony. Richard Hochhauser of Hochhauser Criminal & DWI Defense, PLLC is a former Long Island prosecutor who defends larceny and white collar cases in Nassau County and Suffolk County courts.
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NY Penal Law § 155.40 at a glance
| Grand larceny in the second degree | |
|---|---|
| Statute | NY Penal Law § 155.40 |
| Charge level | Class C felony (non-violent) |
| Value threshold | More than $50,000 |
| Maximum prison term | Up to 15 years |
| Next lower charge | Grand larceny in the third degree (PL 155.35), over $3,000, class D felony |
What NY Penal Law § 155.40 says
A person is guilty of grand larceny in the second degree when such person steals property and when:
1. The value of the property exceeds fifty thousand dollars; or
2. The property, regardless of its nature and value, is obtained by extortion committed by instilling in the victim a fear that the actor or another person will (a) cause physical injury to some person in the future, or (b) cause damage to property, or (c) use or abuse the actor’s position as a public servant by engaging in conduct within or related to the actor’s official duties, or by failing or refusing to perform an official duty, in such manner as to affect some person adversely; or
3. The property consists of retail goods or merchandise stolen pursuant to a common scheme or plan or a single, ongoing intent to deprive another or others of the property or to appropriate the property to the actor or another person and the value of the property exceeds fifty thousand dollars, which value may be determined by the aggregate value of all such property regardless of whether the goods or merchandise were stolen from the same owner. Nothing in this subdivision shall be read to limit the ability to aggregate the value of any property or the ability to charge the larceny of retail goods or merchandise under another applicable provision of law.
3. Such person commits deed theft, regardless of the value, of: (a) one residential real property; or (b) one commercial mixed-use property with at least one residential unit; or (c) two or more commercial properties.
Grand larceny in the second degree is a class C felony.
Source: New York State Senate, official text. Read the full section, including any later amendments, before relying on it.
The official text currently contains two subdivisions numbered 3, both shown above as they appear.
What the prosecutor has to prove
- You took, obtained or withheld property from its owner, including by embezzlement, false pretenses or extortion.
- You intended to deprive the owner of it or keep it for yourself or someone else.
- The value exceeded $50,000, or the extortion, retail-theft or deed-theft subdivisions apply.
Penalties for second-degree grand larceny
| Outcome | What it means |
|---|---|
| Prison | Up to 15 years in state prison (class C felony). |
| Probation | Not a violent felony, so a sentence without prison is possible in some cases, often tied to restitution. |
| Restitution | Full repayment is central to almost every resolution and can be the difference between prison and probation. |
| Collateral consequences | Professional licenses, employment, immigration status and civil lawsuits are all at stake. |
Under investigation or charged with grand larceny?
Call before your next court date. Consultations are free, in person at our Hempstead office or by video call or phone call. We answer 24/7.
How second-degree grand larceny charges show up on Long Island
In about two years of Nassau County and Suffolk County arraignment records, about 44 people were arraigned on PL 155.40, a little more than half of them in Nassau County. Almost all were charged under subdivision 1, value over $50,000.
These cases are often investigated for months before an arrest. Getting a lawyer involved early, before any interview with investigators, can change the outcome.
In Nassau County, arrests are arraigned at the Nassau County District Court, 99 Main Street, Hempstead, NY 11550, across the street from our office. Felony cases that are indicted move to Nassau County Court, 262 Old Country Road, Mineola, NY 11501. In Suffolk County, arraignments are held at the Suffolk County District Court, First District, 400 Carleton Avenue, Central Islip, NY 11722. Indicted felony cases go to Suffolk County Court, Arthur M. Cromarty Criminal Court Complex, 210 Center Drive, Riverhead, NY 11901.
An example
A bookkeeper is accused of writing checks to herself from an employer’s account over three years, totaling $78,000. The charge is PL 155.40(1). The defense reviews the records for authorization, compensation agreements and accounting errors, and, where appropriate, works on a restitution plan that can lead to a reduced charge and avoid prison.
Defenses to a PL 155.40 charge
- Value. The prosecutor must prove more than $50,000; loss calculations are often overstated.
- Authorization or claim of right. Payments may have been authorized, or believed in good faith to be owed.
- Civil dispute, not a crime. Contract and business disagreements are sometimes charged as larceny.
- Records. Forensic accounting can undercut the prosecution’s numbers.
- Restitution strategy. Handled correctly, repayment can lead to a much better result.
Related offenses
- Grand larceny in the third degree (PL 155.35)
- Grand larceny in the fourth degree (PL 155.30)
- Petit larceny (PL 155.25)
- Long Island theft and grand larceny defense
NY Penal Law § 155.40: frequently asked questions
What is grand larceny in the second degree in New York?
Under Penal Law 155.40, it is stealing property worth more than $50,000, obtaining property by certain kinds of extortion, certain retail theft schemes over $50,000, or certain deed thefts. It is a class C felony.
What is the sentence for grand larceny 2nd degree?
It is a class C felony with a maximum of 15 years in state prison. It is not a violent felony, so a sentence without prison may be possible in some cases, often depending on restitution.
Should I talk to investigators before I am charged?
Talk to a lawyer first. Many of these cases are built over months, and what you say in an interview can become the main evidence against you.
Does paying the money back end the case?
Not automatically, but restitution is central to the outcome and can lead to a reduced charge or a non-prison sentence. It should be arranged through your lawyer.
How much does a lawyer cost for this charge?
Hochhauser Criminal & DWI Defense, PLLC charges a flat fee, quoted after your free consultation, so you know the cost up front.
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This is general information about New York law, not legal advice about your case. Laws change, and the right defense depends on the facts. Prior results do not guarantee a similar outcome.
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