Search results
Results From The WOW.Com Content Network
18 U.S. Code § 641 - Public money, property or records. Whoever embezzles, steals, purloins, or knowingly converts to his use or the use of another, or without authority, sells, conveys or disposes of any record, voucher, money, or thing of value of the United States or of any department or agency thereof, or any property made or being made ...
Some states specify certain types of misappropriations as felonies, such as those committed by a public employee or involving public funds. For example, a city employee who misappropriates $200 of parking fine revenues might still face a felony despite the small monetary value.
The words "public funds", as used in this Act, mean current operating funds, special funds, interest and sinking funds, and funds of any kind or character belonging to or in the custody of any public agency.
Misappropriation of funds can be done by a trustee, a public official, an executor of a deceased person’s estate, or any other individual with the responsibility to care for and protect the assets of another person. This is a punishable offense in all US states.
In Moore v. United States, 160 U.S. 268, 269 (1895), the Supreme Court defined embezzlement in the following terms: Embezzlement is the fraudulent appropriation of property by a person to whom such property has been entrusted, or into whose hands it has lawfully come.
In law, misappropriation may be defined as "[t]he unauthorized, improper, or unlawful use of funds or other property for purposes other than that for which intended." Misappropriation commonly refers to situations in which the offending party has an added measure of responsibility, such as misconduct by a public official, a trustee of a trust ...
Application of general penal statutes relating to larceny, embezzlement, or conversion of public moneys or property of the United States, to moneys and property of Saint Lawrence Seaway Development Corporation, see section 990 of Title 33, Navigation and Navigable Waters.