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 ?
Previous historians have invariably viewed the proliferation of embezzlement statutes, and more importantly, manufacturers' efforts to police work, as a direct and unproblematic legal response to the property encroachments of workers.
The key to accounting for the policing initiative was the precise relationship between the forms of embezzlement practiced by spinners, false and short reeling, and the goal of enhancing the disciplinary potential of the wage.
The law would prove an especially important resource in attending to the intractable problem of embezzlement.
said that one consequence of the suspected embezzlement has been a renewed emphasis at the newspaper on basic accounting principles.
It's always back to basics," Neill said of the alleged embezzlement of Observer funds by a former Observer production supervisor, two other men, and a contract printing company.
announced today that it has released The 2011 Marquet Report On Embezzlement - its annual study of major embezzlement cases in the United States.
Vermont topped the list of states with highest risk for loss due to embezzlement in 2011.
CPAs should be alert to simple trends when determining a company's risk of material embezzlement.
The late Donald Cressey, a noted criminologist, pioneered the study of embezzlement by interviewing approximately 300 prison inmates in the 1950s.
What started out as the theft of a few hundred dollars to help her kids became a major embezzlement that went undetected for nearly four years.
The Marquet Report On Embezzlement examined 415 major embezzlement cases active in the US in 2009 - those with more than $100,000 in reported losses.
A copy of The Marquet Report On Embezzlement can be obtained by calling (917) 733-1038 or e-mailing a request to info@marquetinternational.