"Might as well be hanged for a sheep as (for) a lamb"

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ArturoK2000

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Good evening, I am reading and studying some English sayings, and would like to as for the meaning for this one: "Might as well be hanged for a sheep as (for) a lamb" Thanks everybody.
 
If you're going to be punished anyway, you might as well commit a bigger crime; if you're going to be hanged for stealing a lamb, you might as well take the same risk and stand to benefit much more. (I'm sure this is explained on some online list... yup ;-), here: Re: May as well be hanged for a sheep as for a lamb. )

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Would you please give some example sentences?
 
For example, a criminal is holding three people hostage. He panics and accidentally shoots (and kills) one person. Now that he's killed a person, it won't matter at his trial whether he killed one or three people (since the ultimate result for just one murder would be either life in prision or the death penalty), so he kills the other two while thinking "might was well be hanged for a sheep as for a lamb."
 
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