embezzle

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Related to defalcation: False token

Embezzle

To steal funds placed under one's responsibility. For example, a trustee has a fiduciary responsibility to use the funds in a trust for the beneficiary and for no other purpose. If he pockets some of the funds instead, he commits embezzlement. This crime can result in significant jail time, depending on the amount stolen. See also: White collar crime.

embezzle

To take illegally something of value being held in custody for someone else.
References in periodicals archive ?
If defaults have been cured, for example, by a nonrecourse borrower tendering deeds in lieu of foreclosure, one of the necessary elements for defalcation is missing.
The security staff at First American fights internal fraud, or defalcation, by preemployment screening and by having a reward program for employees who give information concerning fraud cases.
Johnigan: External auditors generally are concerned with misappropriation of assets, such as by theft or defalcation, when it results in material misstatement of the financial statements.
La FIFA avait clairement mentionne que le club algerien risque une defalcation de 6 points comme premiere sanction en cas de non-paiement dans les delais.
Cohen alleges that the Board of Directors conspired to wrongfully discharge him and steal his 2,250,000 shares of stock that was issued to him in the company after he attempted to have Herick removed as Director and Chairman of the Board, and requested the Board of Directors take immediate action for corporate wrong doings, breaches of duty, as well other allegations including equitable accounting, breach of duty of good faith, duty of loyalty & duty of care, abuse of control, conversion, misappropriation of business opportunities, and defalcation.
The report has exposed 1,034 cases of defalcation, misappropriation, loss and theft involving Rs.
This is appropriate even if the matter might be considered inconsequential, such as a minor defalcation by an employee at a low level in the entity's organization.
The attorney had used the trust funds three times in a four-month period in 1996 to pay personal and business obligations and had replaced and disbursed the money to the clients within five months of the last defalcation.
Dans ce cas de figure, l'article 8 du code disciplinaire prevoit de sanctions contre les clubs refractaires de [beaucoup moins que] match perdu (sans attribution de points a l'equipe adverse), defalcation de neuf points, deux ans de suspension ferme de toute fonction officielle pour la personne concernee du club et un million de dinars d'amende pour le meme club [beaucoup plus grand que].
Additional counts alleged in the suit include equitable accounting, breach of duty of good faith, duty of loyalty & duty of care, abuse of control, conversion, misappropriation of business opportunities, and defalcation.
Of all nonpublic audit claims, 20% alleged failure to detect a defalcation.
Government agencies and corporations are not eligible to apply for reimbursement, and the defalcation must have been because of an attorney-client relationship and not a business or other relationship.