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 ?
A number of Dubai Government officials and bureaucrats are currently facing embezzlement charges.
5 million to $3 million, saying he was ``struck by the fact'' the original figure in the embezzlement case was five times the normal amount for a person charged with murder.
An organization that doesn't check account balances daily and reconcile bank statements immediately is inviting embezzlement.
The Service argued that the trust should have been included in Parker's estate even if it was excludible from the stepfather's estate, because at her death she possessed the claim against him for embezzlement.
The business owner in the opening scenario who fell prey to computer embezzlement failed to check her computer's access log on a regular basis.
The Marquet Report On Embezzlement examined 415 major embezzlement cases active in the US in 2009 - those with more than $100,000 in reported losses.
The NAB has decided to hold inquiry of this embezzlement after reviewing the total number of TB patients in the country, their treatment details, and funds provided by international donor agency.
84 million embezzlement in purchase of land for (PARCO) pumps and filed reference against them in 2004.
Investigating agencies referred this case to NADRA, which proved that fake deserving records were created for this embezzlement.
The ACC initiated investigation into the alleged embezzlement of the bank's rural credit fund from September 4, 2017.
It may be mentioned that the NAB officials had arrested former food minister Mir Izhar Hussain Khosa on Feb 6 over allegations of 65,000 wheat sacks embezzlement whose estimated cost was Rs280 million.
Islamabad -- The Federal Investigation Agency arrested Thursday former chairperson of Evacuee Trust Property Board, Asif Hashmi, on the directives of Chief Justice of Pakistan Mian Saqib Nisar over embezzlement charges.