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 ?
A number of local government leaders have been indicted for allegedly embezzling quake relief funds and for other irregularities.
Teo Cheng Kiat had worked for SIA for nearly 25 years and was charged on 4 February for allegedly embezzling funds though hundreds of bank transaction since December 1994.
In the first case, the public prosecution referred two employees at a semi-government firm to the Court of First Instance on the charge of embezzling Dh478,345 worth of transaction fees from customers.
Prosecutors charged the suspect with embezzling his former employer's Dh205,000.
The 30-year-old Sudanese accountant, who worked for an outsourced company that deals with the Labour Ministry and provides VIP services to businessmen, had denied committing e-fraud and embezzling Dh4 million when he appeared before the Dubai Court of First Instance.
In February 2013, Santana was charged with embezzling and money laundering.
Abu Dhabi Criminal Court issued the sentence to the Egyptian man, in his absence, after he was found guilty of forging official documents and embezzling money from the department of foreign scholarships at the Ministry of Higher Education in Abu Dhabi where he worked.
In a separate case, the court jailed a Bahraini for three years for embezzling money from a company he worked at in 2009.
The 59-year-old former president was convicted last year at the Taipei district court of embezzling state funds, laundering money, accepting bribes and committing forgery and was sentenced to life.
LANCASTER - Two Antelope Valley mortgage company workers, as well as a minister and a San Bernardino homeowner, have been arrested on suspicion of embezzling a total of $380,000 from 24 people in the Antelope and San Fernando valleys.
According to the co-op, the two started embezzling around December 1998 by pretending to buy meat from the meat processor and defrauding the money from the co-op, or by giving the processor meat that the co-op had purchased from other companies.
Taylor, of Edinburgh, admitted embezzling more than pounds 28,000 between 1996 and 2001.