Definitions for "Embezzlement"
The fraudulent appropriation of property by a person to whom it has been intrusted; as, the embezzlement by a clerk of his employer's money; embezzlement of public funds by the public officer having them in charge.
The fraudulent taking of property left in one's care. A proper system of internal controls in a business will reduce the opportunities for embezzlement to occur. Every facet of a company is open to embezzlement, including cash handling, receivables, payables, inventory, and equipment. Most business managers are astounded to learn how vulnerable their company is to embezzlement.
The unlawful taking by a person of money or property entrusted to his/her care or lawfully placed in his/her possession. Taking with the intention of depriving the lawful owner.
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