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What Is the Crime of Embezzlement?

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Gavel

Gavel

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Question: What Is the Crime of Embezzlement?
Answer: The crime of embezzlement is the theft, misappropriation or secreting of money or property by a person who is in a position of trust or responsibility over the assets. Embezzlement usually involves the fraudulent conversion of the property of another by someone who is responsible for or in legal possession of that property.

The most common form of embezzlement is when an employee of a bank, business or church steals funds from his or her employer by misappropriating or misdirecting money by fraud. Typically, small amounts of money are stolen over time in order to conceal the embezzlement.

Embezzlement can also occur with an attorney or a Realtor steals from a trust fund, financial managers misdirect investors' money or even when a spouse hides assets from the other spouse.

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