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Embezzlement (from Anglo-Norman, from Old French besillier ("to torment, etc."), of unknown origin) [1] is a term commonly used for a type of financial crime, usually involving theft of money from a business or employer. It often involves a trusted individual taking advantage of their position to steal funds or assets, most commonly over a ...
Embezzlement is misappropriation when the property or funds involved have been lawfully entrusted to the embezzler. In circumstances where the funds are accessible to, but not entrusted to, the perpetrator, it is not embezzlement but can still be considered larceny, misappropriation, misapplication, or some other similar term.
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
An administrator of a church stole more than $360,000 in church funds as part of an embezzlement scheme that went on for five years in northern California, federal prosecutors said.
Taylor, 56, was accused in a federal complaint unsealed Tuesday with embezzling funds intended to serve Modest Needs' mission of helping the needy, evading more than $1 million in taxes and ...
Embezzlement is the theft of entrusted funds. It is political when it involves public money taken by a public official for use by anyone not specified by the public. Ponzi schemes are an example of embezzlement. Some embezzlers "skim off the top" so that they continually acquire a small amount over a particular time interval.
Embezzlement is the illegal taking or appropriation of money or property that has been entrusted to a person but is actually owned by another. In political terms, this is called graft, which is when a political officeholder unlawfully uses public funds for personal purposes.
Nigeria has previously said it would use some of the Abacha funds for infrastructure projects, including roads and bridges. (Reporting by Camillus Eboh; Writing by MacDonald Dzirutwe; Editing by ...