(1) A person who shall, having lawful custody of property not his or her own, appropriate the same to his or her own use, with intent to deprive the owner thereof, commits the crime of embezzlement.

(2) If the verified value of the property is greater than $1,000, embezzlement is a Class E offense.

(3) If the verified value of the property does not exceed $1,000, embezzlement is a Class C offense.