em
be
zzle
ment
1
the act of stealing funds that are placed in one's trust and belong to one's employer
- The accountant was found guilty of embezzlement after diverting company funds into personal accounts for several years.
- Embezzlement involves the illegal taking of money or property by someone entrusted with its care, such as an employee or a public official.
- The nonprofit organization implemented stricter financial controls to prevent future incidents of embezzlement.
- The CEO resigned in disgrace after an internal audit revealed widespread embezzlement of corporate assets.
- Conviction for embezzlement can result in severe penalties, including imprisonment, fines, and restitution to the victims.