Search results
Results From The WOW.Com Content Network
In accounting terminology, especially with respect to the area of audit, defalcation means a misappropriation of assets or theft of assets by employees or officers of a corporation. Defalcation occurs when a debtor commits a bad act while acting in a fiduciary capacity. [5]
One city employee has been terminated due to the misappropriation of funds, according to an announcement by Jackson Mayor Chokwe Antar Lumumba at a press conference Monday.
Making the distinction is particularly difficult when dealing with misappropriations of property by employees. To prove embezzlement, the state must show that the employee had possession of the goods "by virtue of his or her employment"; that is, that the employee had formally delegated authority to exercise substantial control over the goods.
Misappropriation of assets – often called defalcation or employee fraud – occurs when an employee steals a company's asset, whether those assets are of monetary or physical nature. Typically, assets stolen are cash, or cash equivalents, and company data or intellectual property. [ 5 ]
"During the immediate internal investigation to gauge the scope of the alleged misappropriation of funds, the city quickly identified the money handling process being exploited and terminated the ...
A former employee for the Social Security Administration is accused of abusing her position to steal $1.8 million in benefits over a 12-year span. ... Faria began using her position to steal funds ...
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 investigation started from a tip, deputies said.