- A form of white-collar crime where a person misappropriates the assets entrusted to him or her. In this type of fraud the assets are attained lawfully and the embezzler has the right to possess them, but the assets are then used for unintended purposes. Embezzlement is a breach of the fiduciary responsibilities placed upon a person.
The nature of embezzlement can be both small and large. Embezzling funds can be as minor as a store clerk pocketing a few bucks from a cash register; however, on a grander scale, embezzlement also occurs when the executives of large companies falsely expense millions of dollars, transferring the funds into personal accounts. Depending on the scale of the crime, embezzlement may be punishable by large fines and time in jail.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
embezzlement — I noun appropriation, breach of trust, cheating, defalcation, fraud, fraudulent appropriation, fraudulent appropriation of money, fraudulent conversion, larceny, malversation, misappropriation, peculation, pilfering, purloining, stealing, swindle … Law dictionary
Embezzlement — Em*bez zle*ment, n. The fraudulent appropriation of property by a person to whom it has been intrusted; as, the embezzlement by a clerk of his employer s money; embezzlement of public funds by the public officer having them in charge. [1913… … The Collaborative International Dictionary of English
embezzlement — 1540s, from EMBEZZLE (Cf. embezzle) + MENT (Cf. ment) … Etymology dictionary
embezzlement — [n] stealing money, often from employer abstraction, appropriation, defalcation, filching, fraud, larceny, misapplication, misappropriation, misuse, peculation, pilfer age, pilfering, purloining, skimming, theft, thieving; concept 139 Ant.… … New thesaurus
Embezzlement — Embezzler redirects here. For the film, see The Embezzler. Criminal law … Wikipedia
embezzlement — embezzle em‧bez‧zle [ɪmˈbezl] verb [intransitive, transitive] LAW ACCOUNTING if someone embezzles money from the company or organization they work for, they steal it, perhaps over a period of time, and use it for themselves: • An American banker … Financial and business terms
embezzlement — n. 1) to commit embezzlement 2) embezzlement from * * * [ɪm bez(ə)lmənt] to commit embezzlement embezzlement from … Combinatory dictionary
embezzlement — See embezzle. * * * Crime of fraudulently appropriating property entrusted to one s care and converting it to one s own use. It occurs when a person gains possession of goods lawfully and then misappropriates them. It thus stands in contrast to… … Universalium
embezzlement — [[t]ɪmbe̱z(ə)lmənt[/t]] N UNCOUNT Embezzlement is the crime of embezzling money … English dictionary
embezzlement — A form of theft in which an employee dishonestly appropriates money or property given to him or her on behalf of an employer. The special offence of embezzlement ceased to exist in 1969 … Big dictionary of business and management