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 ?
If successful in court, the embezzler would be required to pay the employer back all the money stolen.
RIO DE JANEIRO - The Chilean wife of a convicted Japanese embezzler was released from custody in Chile on Monday after being arrested on suspicion of facilitating the prostitution of Chilean women in Japan, a local newspaper reported on its website.
Lord Black said that he was being wrongly accused as an embezzler and that he is trying to "retrieve my reputation as an honest man.
The embezzler built the elaborate mansion as a direct consequence of his participation within a vital, thriving economic system, even if his mode of participation was illicit.
Offences of this nature and in this quantity, against your background as an embezzler, makes the offences so serious that only a custodial sentence could be justified," the judge said.
When John Bigelow, for example, states that `having a plagiarist as the head of a university is like having an embezzler running an accounting firm', this certainly rings bells in these days of corporate fraud but it fails all the more substantial tests of institutional similarities.
Instead of just going along with a settlement well within policy limits, however, the adjuster offered to pay only the loss the embezzler had caused during the policy period when the agency discovered the loss and the policy period immediately preceding it.
But the deliciously horrible thought occurs: for every embezzler who's caught, how many get away with it?
This story is about a character who, at the beginning, was suspected of incompetence but, by the end, showed himself to be an incorrigible scamp, a barefaced embezzler and an opportunist of the first order.
By having been "led" by several inept men who should have been directed toward a different lifestyle--one was an alcoholic, one was an embezzler, the other was a pedophile.
s, like the unscrupulous Clifford Lloyd, pensioned off as unfit in 1885, or the disreputable O'Neal Seagrave, an embezzler and swindler turfed out in 1889.
US 1072, in which it was held that an embezzler could not claim a net operating loss deduction for repayment of embezzled funds, as embezzlement was not a "trade or business" for Sec.