California Penal Code Section 496(a) - receipt of stolen property

(a) Every person who buys or receives any property that has
been stolen or that has been obtained in any manner constituting
theft or extortion, knowing the property to be so stolen or obtained,
or who conceals, sells, withholds, or aids in concealing, selling,
or withholding any property from the owner, knowing the property to
be so stolen or obtained, shall be punished by imprisonment in a
state prison, or in a county jail for not more than one year.
However, if the district attorney or the grand jury determines that
this action would be in the interests of justice, the district
attorney or the grand jury, as the case may be, may, if the value of
the property does not exceed four hundred dollars ($400), specify in
the accusatory pleading that the offense shall be a misdemeanor,
punishable only by imprisonment in a county jail not exceeding one
year.
  A principal in the actual theft of the property may be convicted
pursuant to this section.  However, no person may be convicted both
pursuant to this section and of the theft of the same property.

Receipt of Stolen property is a fairly straightforward crime.  The
prosecution must show that the individual bought or received the
property knowing that it is stolen or extorted property.  The
prosecution can also show that the person either hid, concealed or
helped hide or conceal the property knowing it was stolen or extorted.

The statute gives the grand jury or the prosecution the discretion
to charge the crime as a misdemeanor instead of a felony if the
pursuit of justice would be served and the amount is less than $400.00
If this is the case, jail time up to one year may be imposed.

Lastly, the individual who committed the theft can be convicted under
this section but cannot be convicted under this section and
for theft of the same property.