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 ]
In political terms, this is called graft, which is when a political officeholder unlawfully uses public funds for personal purposes. Nepotism is the practice or inclination to favor a group or person who is a relative when giving promotions, jobs, raises, and other benefits to employees. This is often based on the concept of familism, which is ...
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.
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.
RICHMOND, Ind. — A former Richmond Sanitary District worker has been accused of embezzling more than $825,000 over a six-and-a-half-year period, according to a newly released report from the ...
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 ]
It is a common form of corruption. The types of favors given are diverse and may include money, gifts, real estate, promotions, sexual favors, employee benefits, company shares, privileges, entertainment, employment and political benefits. The personal gain that is given can be anything from actively giving preferential treatment to having an ...
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).