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.
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References in periodicals archive ?
The sources said millions of dollars embezzlements were alleged after some supposed name persons withdrew million of dollars from Afghanistan account branch in New York.
The body in its meeting held here under the Chairmanship of Amirullah Marwat said that HEC did not took any action against the Financial embezzlements at Hazara university.
A NEW law that criminalises bribery and embezzlement in the private sector has been approved following an 11-month tug-of-war between legislators.
A seminar focusing on strategies that top officials of nonprofit organizations can use to prevent fraud and embezzlement will be presented March 25 in Concord.
Did he actually think he could get away with his embezzlements? Did he really believe that embezzling was expected or tacitly endorsed at ADM?
338.4 w1, "An Account of Frauds and Embezzlements Committed by the Spinners and Others Employed in the Worsted Manufactory, 1778-1783,"; and conviction notices published in the Leeds Mercury, 1777-1779 and Leeds Intelligencer, 1780-1799.
Asked if the strengthened accounting and inventory controls at the paper now make the Observer immune to embezzlements, Neill said nothing is certain: "The people who have the most money in the world -- banks -- are defrauded all the time, even though they supposedly have the best controls in the world, but one thing you do know is, if you follow the fundamentals, you are less likely to be vulnerable."
Rawalpindi -- A joint investigation team has been formed to probe into alleged financial embezzlements in Holy Family Hospital.
Embezzlements can be uncovered, but more importantly, people like Lemon will be much less likely to steal knowing a CPA will be scrutinizing their activities.
PESHAWAR, December 31, 2009 (Balochistan Times): The Ministry of Interior has banned four high officials of Provincial Earthquake Reconstruction and Rehabilitation Authority (PERRA) for travelling abroad on their alleged involvement in financial embezzlements in developmental projects in earthquake-hit areas and placed their names on Exit Control List, sources said on Thursday.
The former consist of typical employee frauds, such as embezzlements, phony expenses and ghost payrolls.
PESHAWAR, December 31, 2009 (Frontier Star): The Ministry of Interior has banned four high officials of Provincial Earthquake Reconstruction and Rehabilitation Authority (PERRA) for traveling abroad on their alleged involvement in financial embezzlements in developmental projects in earthquake-hit areas and placed their names on Exit Control List, sources said on Thursday.