Example Of Embezzlement
Embezzlement means it is a type of fraud that involves finances. Any person who uses someone else’s funds and show false accounts to substitute their theft are called embezzlement. When someone trusts their money with you, they expect you to take care of it in the right medium and also give you some powers that will help you handle the powers. It may be a high position or it can be a trust. |
When you take the money for your personal use when it has been entrusted to you, it is called embezzlement of funds. Embezzlement is a crime that takes place in high positions mainly. It is a high profile crime.
For example, a person who works in a back in a high position is in a position of handling huge amount of funds and they also can steal money from the funds and falsify the accounts. Embezzlement sometimes is caught early and sometimes after a lot of it is stolen. It often happens when the embezzler becomes greedy and wants more and more. It is typically a pattern where the embezzler wants more funds and continues doing the crime in the same fashion. However, a good auditor can identify the pattern and also recognize the patterns of embezzlement. Some financial audits also bring discrepancies into accounts but falsified records can be identified in a different way. Also, embezzlement can be recognized when the lifestyle of a person changes suddenly and they are able to afford more expensive things. All these are tell tale signs that the person could be manipulating accounts and especially if they are in a position of power.
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Embezzlement means the act of taking money that has been placed in your trust. The money does not belong to you but to another person. Embezzlement can take place when a high official who is in a position to take power and control of your accounts misuses your funds knowingly. They also manipulate the accounts in such a way so that the accounts are correct.