Theft or larceny is a  a crime of moral turpitude, which is a term used to describe crimes involving lying, cheating, and stealing. Depending on what your particular situation is, for instance what your profession is, or what your immigration status is, having a conviction of larceny or a crime of moral turpitude could close a lot of doors. If you’re not a U.S. citizen, depending on the type of larceny offense and the sentence that was imposed, it could result in deportation or inadmissibility at a future date. If you’re a U.S. citizen, depending on the type of job that you have, for instance if you have a job that requires a security clearance, then having a conviction for larceny could be extremely damaging and could put your security clearance at risk.