embezzle

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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 ?
Furthermore, another two accused Siraj-uddin Monitoring Officer FDMA and Irfan Community Mobilizer managed to open fake Bank Accounts in the name of so called affectees, through Amjad Ali of employee of Bank in United Bank Limited (UBL) Regi Branch Karkhano Peshawar, Sardar Khan and Mohammad Ayub in Habib Bank Limited Inayat Kali Branch, Bajour Agency and pocketed millions of rupees embezzled with their other crony accused.
Proper reporting of the embezzled income to the IRS will provide the employer with documentation for deducting its loss and also meet the filing requirements of section 6721 and section 6722.
was believed to have embezzled around Dh490,000 in the form of a bank loan and a credit card.
3 million were embezzled in construction of protection walls on the bank of the river Swat and Panjkora out of which Rs8 million had been recovered from the officials of irrigation department and concerned contractor.
AN INVESTMENT banker who embezzled more than PS400,000 from his employers, Morgan Stanley, has been ordered to repay only PS1.
However, he confessed to the crime during questioning by prosecutors, but claimed he only embezzled BD100.
District Court for the Northern District of Texas, Castillo embezzled funds in amounts of $100 to $1,000 and then deposited the money into her credit union account or her boyfriend's account.
ACE sources said on Wednesday that a complainant in his application submitted to Director ACE Baber Aman Baber had alleged that Chief Engineer Shokat Shaheen, Executive Engineer Iftikhar Ahmad, EDO Works and services of provincial highways Mianwali in connivance with contractor Aziz Ullah had embezzled Rs 30.
950 million embezzled money from NATOVER Leasing and Refinancing Co, Ltd.
This comes in the light of recent development in the Muscat Municipality embezzlement case, which revealed that an official embezzled funds in the municipality through forgery.
Five employees of Nishi-Nippon Bank embezzled about 136 million yen from the bank's deposits, the bank said Friday.