Embezzling

Embezzling is the act of secretly misappropriating or stealing funds or assets that one has been entrusted to manage, often by an individual in a position of authority or responsibility within an organization. This financial crime involves breach of trust and deception, as the perpetrator takes advantage of their position to unlawfully enrich themselves. Embezzlement differs from simple theft because it involves an initial lawful possession of the assets. The severity of the crime varies depending on the amount embezzled and the specific jurisdiction, but it always entails a loss of financial stability and trust, causing long-term damages and legal implications.

Embezzling meaning with examples

• The accountant was caught embezzling funds from the company's accounts over a period of several years. His actions led to the near collapse of the company. A police investigation revealed the extent of the embezzlement and further legal actions are scheduled to be taken against him. The scandal damaged the company's reputation and led to investor distrust.
• After a routine audit, it was discovered that the treasurer had been embezzling charity donations for personal use. The investigation uncovered elaborate schemes the treasurer had been using for a long period of time. Many patrons were outraged and demanded all legal actions that were due. The charity suffered a significant financial setback and loss of public trust.
• The bank teller was charged with embezzling customer deposits. The evidence included forged documents and false transactions, demonstrating that he took advantage of his position to siphon money from the accounts, leading to major client financial losses. The teller's arrest caused anxiety among customers, and a major internal review was set to take place.
• The politician was accused of embezzling campaign funds, using them for lavish personal expenses and investments. This caused controversy and public outrage when the full details of the embezzlement were made public. The politician faced potential criminal charges, including imprisonment. Many supporters felt betrayed, and the politician was forced to resign in disgrace.
• An executive was found embezzling company property by creating false invoices and using the company’s credit card for personal purchases. This fraudulent activity went on for a very long time. The company fired the executive and filed a lawsuit, aiming to recover the lost assets and repair its public image. It caused a negative morale within the workplace.