1) When someone fucks up and/or takes your shit.
2) When YOU fuck up and/or take someone's shit.
Brad: "Angela committed GRAND LARCENY on my dick last night bro. She fucking ran into the sunset wit dat shit."
Pete: "Dis nigga broke into my crib de other night. So I burnt his mother fucking house to the ground and Grand Larceny'd his Ford Pinto."
3) When you fuck a female so hard that she seizures and shits on your dick.
Herald: "I asked my C.P.A. out to dinner so she wouldn't expose our tax fraud. Ended up commitin' GRAND LARCENY on that bitch last night."
Gregory: "Yeah dawg, last night I fucking committed Grand Larceny on Tina. I fucking made the bitch leak like the mother fuckin' hoover damn."