Definitions for embezzlement

This page provides all possible meanings and translations of the word embezzlement

Princeton's WordNet

  1. embezzlement, peculation, defalcation, misapplication, misappropriation(noun)

    the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else

Wiktionary

  1. embezzlement(Noun)

    The fraudulent conversion of property from a property owner.

Webster Dictionary

  1. Embezzlement(noun)

    the fraudulent appropriation of property by a person to whom it has been intrusted; as, the embezzlement by a clerk of his employer's; embezzlement of public funds by the public officer having them in charge

Freebase

  1. Embezzlement

    Embezzlement is the act of dishonestly withholding assets for the purpose of conversion of such assets by one or more individuals to whom such assets have been entrusted, to be held and/or used for other purposes. Embezzlement is a kind of financial fraud. For instance, a lawyer could embezzle funds from clients' trust accounts, a financial advisor could embezzle funds from investors, or a spouse could embezzle funds from his or her partner. Embezzlement may range from the very minor in nature, involving only small amounts, to the immense, involving large sums and sophisticated schemes. More often than not, embezzlement is performed in a manner that is premeditated, systematic and/or methodical, with the explicit intent to conceal the activities from other individuals, usually because it is being done without the other individuals' knowledge or consent. Often it involves the trusted individual embezzling only a small proportion or fraction of the total of the funds or resources he/she receives or controls; in an attempt to minimize the risk of the detection of the misallocation of the funds or resources. When successful, embezzlements continue for years without detection. It is often only when a relatively large proportion of the funds are needed at one time; or they are called upon for another use; or, when a major institutional reorganization requires the complete and independent accounting of all real and liquid assets; prior to, or concurrent with, the reorganization, that the victims realize the funds, savings, assets or other resources, are missing and that they have been duped by the embezzler.


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