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In criminal law, misappropriation is the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a deceased person's estate or by any person with a responsibility to care for and protect another's assets (a fiduciary duty).
The classic example of defalcation occurs when a trustee recklessly invests trust funds and loses the money. If the beneficiary wins a judgment against the trustee, and the trustee files for bankruptcy , the debt (the judgment) cannot be discharged in bankruptcy because the debt was the result of a defalcation.
For example, the Second Circuit at one point spoke sweepingly of the scope of the New York misappropriation doctrine in these terms: New York courts have noted the incalculable variety of illegal practices falling within the unfair competition rubric, calling it a broad and flexible doctrine that depends more upon the facts set forth than in ...
Minnesota used federal taxpayer dollars to cover state workers' parking costs, fund the Minnesota Zoo, ... For example, Walz oversaw the use of more than $4.3 million (across two line items) to ...
A state audit report released Monday accused Iowa's Republican Gov. Kim Reynolds of using nearly $450K in federal coronavirus relief funds to pay staff salaries and concealing the spending.
The Bell scandal involved the misappropriation of public funds in Bell, California, United States, over a period of several years in the late 2000s.In July 2010, the Los Angeles Times published an investigative article on possible malfeasance in the neighboring city of Maywood, revealing that the city officials of Bell received salaries that were reported as the highest in the nation. [1]
A Vatican tribunal on Wednesday defended its 2023 decision to convict a senior Catholic cardinal of misappropriation of funds, saying the prelate was "aware of all the steps" in a botched $200 ...
The nonprofit Mississippi Community Education Center (MCEC) received $2.5 million in federal grant funds diverted from Mississippi's TANF welfare funds, as well as tens of millions in public funds as an element of the scheme. The Mississippi state auditor has termed the scheme "the largest public embezzlement case in state history".