Look up peculation in Wiktionary, the free dictionary. Embezzlers commonly secrete relatively small amounts repeatedly, in a systematic or methodical manner, over a long period of time, although some embezzlers secrete one large sum at once. A smart technique employed by many small-time embezzlers can be covered by falsifying the records. To prove embezzlement, the state must show that the employee had possession of the goods "by virtue of his or her employment"; that is, that the employee had formally delegated authority to exercise substantial control over the goods. It is important to make clear that embezzlement is not always a form of theft or an act of stealing, since those definitions specifically deal with taking something that does not belong to the perpetrators. Instead, embezzlement is, more generically, an act of deceitfully secreting assets by one or more persons that have been entrusted with such assets.
to allocate (something, such as money or resources) poorly or improperly allegedly misallocated company funds Top managers misallocate. It has a primary impact – the effect of a particular corrupt transaction in terms of misallocating public goods or misspending public money. SEC fines BDC investment adviser for misallocation of expenses and valuation SEC Charges Private Equity Fund Manager with Misallocation of Portfolio.
As in larceny, the measure is not the gain to the embezzler, but the loss to the asset stakeholders.
For example, inseveral managers of the service provider Aramark were found to be under-reporting profits from a string of vending machine locations in the eastern United States. It is important to make clear that embezzlement is not always a form of theft or an act of stealing, since those definitions specifically deal with taking something that does not belong to the perpetrators.
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Ask the Editors On Contractions of Multiple Words You all would not have guessed some of these A Look at Uncommon Onomatopoeia Some imitative words are more surprising than others Literally How to use a word that literally drives some people nuts. In the infamous defalcation case of Bullock v.
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Actus reus Mens rea Causation Concurrence. Felony Infraction also called violation Misdemeanor. Dictionary Entries near misallocate misalign misalignment misalliance misallocate misallocation misally misanalysis. Test Your Knowledge - and learn some interesting things along the way. Brown, 56 N.
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A Gross Misallocation of Funds. Stopping Homeland Security pork-barreling requires strong executive branch leadership. By The Crimson Staff. The Misallocation of Federal Funds in the U.S. Child Welfare System.
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Love words? As in larceny, the measure is not the gain to the embezzler, but the loss to the asset stakeholders. In the United States, embezzlement is a statutory offence that, depending on the circumstances, may be a crime under state law, federal law, or both; therefore, the definition of the crime of embezzlement varies according to the given statute.
Embezzlement usually is a premeditated crime, performed methodically, with precautions that conceal the criminal conversion of the property, which occurs without the knowledge or consent of the affected person.
However, this bookkeeping measure is usually discouraged because it can muddy the accounting waters. The Theft Acts and
Defalcation is a form of embezzlement, either through the misallocation of funds, or the failure to account for received funds. Further, defalcation.
The term sees frequent use in the context of the title insurance business. Partner Links. In the United States, embezzlement is a statutory offence that, depending on the circumstances, may be a crime under state law, federal law, or both; therefore, the definition of the crime of embezzlement varies according to the given statute.
Criminal conversion : Embezzlement is a crime against ownership, that is, voiding the right of the owner to control the disposition and use of the property entrusted to the embezzler.
Attempt Conspiracy Incitement Solicitation. First Known Use of misallocatein the meaning defined above. Misprision of felony Compounding a felony Champerty and maintenance Embracery.