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A category of larceny—the offense of illegally taking the property of another—in which the value of the property taken is greater than that set for petit larceny.
At Common Law, the punishment for grand larceny was death. Today, grand larceny is a statutory crime punished by a fine, imprisonment, or both.
n. the crime of theft of another's property (including money) over a certain value (for example, $500), as distinguished from petty (or petit) larceny in which the value is below the grand larceny limit. Some states only recognize the crime of larceny, but draw the line between a felony (punishable by state prison time) and a misdemeanor (local jail and/or fine) based on the amount of the loot. (See: larceny, theft)