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 ?
Soriano Corp., both firms sequestered from the Marcoses; and of embezzling P1.5 million cash advances for a trip in Malaysia which he supposedly failed to liquidate.
Defendants contend that Draisey made a false statement in the Renewal Survey when he failed to disclose his ongoing embezzling activities in response to a question asking whether there were any changes in Middleburg's "operations or exposure." Middleburg contends Draisey made no affirmative misrepresentation when asked about Middleburg's operations or expenses, but instead simply omitted facts which were not specifically asked of him.
A 17-count indictment in July accused him of embezzling more than $13,000 in financial aid from 13 students at the South Texas Vocational Institute.
Abadio Carrillo fled Guatemala in 2004 after his father, Marco Tulio Abadio Molina, the country's former tax chief, was imprisoned for embezzling more than US$5 million.
The court said she created and submitted false reports and documents to disguise embezzling more than $397,000 to pay her personal debts, gambling debts and other personal expenses.
David Frederick Thornton, founder of the Thornton Kidney Research Foundation, was arrested by US Secret Service agents on June 14 on charges of mail fraud in connection with embezzling charitable funds.
The Aomori prefectural police are set Tuesday to start interrogating a former accounting executive of Aomori Prefectural Housing Supply Public Corp., who was arrested in Tokyo late Monday on a charge of embezzling 1.42 billion yen from the housing authority.
A local government leader in central Taiwan was sentenced to life in prison Thursday for embezzling funds destined for reconstruction from earthquake damage in the harshest sentence to date in connection with an ongoing quake graft probe.
A man who was once jailed for embezzling hundreds of thousands of dollars from an insurance company's pension fund was celebrating yesterday after sharing a pounds 41 million lottery win with a friend.
A former clerk for Singapore Airlines has apparently been charged with embezzling about SGD30m from the carrier.
A former special police constable was warned he could go to jail after admitting embezzling over PS2,400 from an Inverness-based bakery.
The 33-year-old Emirati woman is on trial at the Abu Dhabi Criminal Court of First Instance for embezzling the amount and spending it on a man who had promised to marry her.