- See embezzle.
* * *Crime of fraudulently appropriating property entrusted to one's care and converting it to one's own use.It occurs when a person gains possession of goods lawfully and then misappropriates them. It thus stands in contrast to larceny, the taking of goods from another without the latter's consent. The most widely adopted embezzlement statutes cover custodians of public funds. Many laws subject public servants to severe penalties, even if funds are lost through improper administration rather than a clear attempt to steal. See also fraud, theft.
* * *▪ lawcrime generally defined as the fraudulent misappropriation of goods of another by a servant, an agent, or another person to whom possession of the goods has been entrusted. The offense has no single or precise definition. Typically, embezzlement occurs when a person gains possession of goods lawfully and subsequently misappropriates them. In this respect, embezzlement is to be contrasted with the crime of larceny, which requires the taking of goods from the possession of another without the latter's consent. The scope of the old common-law crime of larceny has been gradually extended by various manipulations of the concept of possession. An English statute of 1529 held in effect that a servant who carried away goods entrusted to him by his master had committed larceny, since the legal title as opposed to the physical possession had never been transferred to him. This extension failed to cover situations in which the servant received goods from a third person intended for his master. The failure of the law of larceny to provide adequate protection for the property of employers against the depredations of servants and employees led to the passage of specific statutes.Some countries limit such statutes to the misappropriation of goods received by an employee “by virtue of his employment.” Others broaden the offense to include any property of the principal received by the defendant employee. Some jurisdictions include even property passed to an employee by mistake, while others require the property to be deliberately passed. The most widely adopted statutes cover custodians of public funds. Many laws subject public servants to severe penalties, even if funds are lost through improper administration rather than a clear attempt to steal. Compare fraud; theft.
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Look at other dictionaries:
embezzlement — I noun appropriation, breach of trust, cheating, defalcation, fraud, fraudulent appropriation, fraudulent appropriation of money, fraudulent conversion, larceny, malversation, misappropriation, peculation, pilfering, purloining, stealing, swindle … Law dictionary
Embezzlement — Em*bez zle*ment, n. The fraudulent appropriation of property by a person to whom it has been intrusted; as, the embezzlement by a clerk of his employer s money; embezzlement of public funds by the public officer having them in charge. [1913… … The Collaborative International Dictionary of English
embezzlement — 1540s, from EMBEZZLE (Cf. embezzle) + MENT (Cf. ment) … Etymology dictionary
embezzlement — [n] stealing money, often from employer abstraction, appropriation, defalcation, filching, fraud, larceny, misapplication, misappropriation, misuse, peculation, pilfer age, pilfering, purloining, skimming, theft, thieving; concept 139 Ant.… … New thesaurus
Embezzlement — Embezzler redirects here. For the film, see The Embezzler. Criminal law … Wikipedia
embezzlement — embezzle em‧bez‧zle [ɪmˈbezl] verb [intransitive, transitive] LAW ACCOUNTING if someone embezzles money from the company or organization they work for, they steal it, perhaps over a period of time, and use it for themselves: • An American banker … Financial and business terms
Embezzlement — A form of white collar crime where a person misappropriates the assets entrusted to him or her. In this type of fraud the assets are attained lawfully and the embezzler has the right to possess them, but the assets are then used for unintended… … Investment dictionary
embezzlement — n. 1) to commit embezzlement 2) embezzlement from * * * [ɪm bez(ə)lmənt] to commit embezzlement embezzlement from … Combinatory dictionary
embezzlement — [[t]ɪmbe̱z(ə)lmənt[/t]] N UNCOUNT Embezzlement is the crime of embezzling money … English dictionary
embezzlement — A form of theft in which an employee dishonestly appropriates money or property given to him or her on behalf of an employer. The special offence of embezzlement ceased to exist in 1969 … Big dictionary of business and management