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 ?
An August 28 story in Computer Weekly News highlights the need for small and mid-sized organizations to increase their attention to the risk of embezzlement.
Labadie was sentenced in 2010 to 10 to 12 years' imprisonment on the bank embezzlement charge and to a concurrent prison term of 9 to 10 years for possessing counterfeiting tools.
A long-time acquaintance of Navalny's, Ofitserov ran the Vyatka Timber Company and was accused of willingly buying KirovLes timber at below-market prices, thus taking part in the alleged embezzlement scheme.
has also been given one year in prison for aiding and abetting him in the embezzlement.
In addition to the infographic, the Construction University website offers a number of resources for small business owners, including a downloadable "15 actions you can take now to counter embezzlement," embezzlement statistics, and the details of one contractor's embezzlement.
The article covers all those involved in bribes and embezzlements and is in line with new international standards," he said.
The court also convicted the Management Consulting Services Company (MCS) for accessory in embezzlement and money laundering, and was fined $5 million in addition to the company's dissolution.
District Judge Michael Hogan she understood that the court was not bound by such a recommendation, and that the maximum possible penalty for embezzlement is 30 years in prison and a fine of up to $1 million.
The director of Bank Saderat Iran, Mohammad Jahromi, has revealed that the bank was victim to an embezzlement operation amounting to 30 trillion riyals ($3 billion).
10 -- As many as four carriage contactors companies has been blacklisted by Food Department over their poor performance and alleged embezzlement in government wheat stock, says a handout issued here Monday.
ISLAMABAD, July 24 -- CDA Chairman Imtiaz Inayat Elahi said that he had got an initial report in which MPO had claimed that no embezzlement happened in the past.
December 23, 2009 (KHARTOUM) -- The number of cases of public funds embezzlement in the Sudanese banking sector declined significantly year over year, according to a report issued this week by the office of the General Inspector.