embezzlement

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embezzlement,

wrongful use, for one's own selfish ends, of the property of another when that property has been legally entrusted to one. Such an act was not larcenylarceny,
in law, the unlawful taking and carrying away of the property of another, with intent to deprive the owner of its use or to appropriate it to the use of the perpetrator or of someone else.
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 at common law because larceny was committed only when property was acquired by a "felonious taking," i.e., when the act was committed with respect to property that was at the time in the legal possession of the owner. Consequently, unfaithful servants, employees, agents, trustees, or guardians who misappropriated another's property could be sued only in the civil courts, on the grounds that although the defendant had legally come into possession of the property, he had breached his trust by wrongfully misappropriating it to his own use. To remedy this situation statutes were passed in England and the United States that either made embezzlement a distinct crime or enlarged the definition of larceny in such a way as to include all cases of misappropriation of property in the lawful possession of the wrongdoer. In most states of the United States embezzlement is a felonyfelony
, any grave crime, in contrast to a misdemeanor, that is so declared in statute or was so considered in common law. In early English law a felony was a heinous act that canceled the perpetrator's feudal rights and forfeited his lands and goods to the king, thus depriving
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. Under acts of Congress, stealing of letters by postmasters, clerks, and letter carriers is considered embezzlement.
References in periodicals archive ?
During the course of inquiry it was revealed that the accused Arshad Khan, being Director General (FDMA) in connivance with others managed to embezzled millions of rupees in compensations payment meant for the affecttee of terrorism after operation in Mohmand Agency.
Fateh also added that a part of the humanitarian aid including flour, powdered milk, rice and fuel are embezzled by the so-called Trade ministry to the Malian and Mauritanian markets.
have hired an accounting firm to find out exactly how much money was embezzled, according to the lawsuit.
The court heard that Mackenzie, a first-time offender, had been helping police with inquiries to try to track the money which he had embezzled through thousands of transactions.
Alvarado received part of the embezzled money from Chida, and invested in the money in an extravagant mansion and other facilities in Chile.
6 million yen two days later from the account held in the name of the housing authority's president, Masayoshi Yamaguchi, and embezzled the money.
The police believe 20% of the funds embezzled went to Chongryon.
Embezzled income is taxable to the person who does the embezzling (revenue ruling 61-185, 1961-2 CB 9; revenue ruling 65-254, 1965-2 CB 50; James v.
Judge Shatford found that Kadisha intentionally embezzled funds from two trusts for which he served as trustee; engaged in transactions prohibited by conflict-of-interest rules for his personal benefit; and repeatedly lied to hide his activities.
was said to have embezzled Dh480,000 in the form of a bank loan and a credit card.
The accused returned the money he embezzled to the company.
3 million were embezzled in several developmental projects in Dir Lower during the previous government out of which Rs11.