What Is Embezzlement ?
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Embezzlement is a kind of fraud that takes place when a person has been entrusted with funds. The embezzler is in a position to be trusted and therefore he misuses the trust and also the funds. Embezzlement often takes place in big companies where a person is in the position of handling the funds.More...
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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.More...
Is Embezzlement A Felony ?
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.More...
Prison Term For Embezzlement
Embezzlement is a fraud and it is a punishable crime. A person who is in a high position pf regard is usually the perpetrator and can take funds when entrusted upon. The worst thing about this crime is that the embezzler is he has the trust of others. The prison term for embezzlement varies according to the crime. For example, some embezzlement harm people in a large scale like a share market fraud or misusing company funds and showing false profits and so, the embezzler can face severe criminal charges and also can be put into prison indefinitely.More...
Embezzlement Trends
According to the latest Columbia Encyclopedia, embezzlement is the wrongful use of an individual’s property for one’s own selfish needs. In other words, the property of one individual which is legally entrusted to another individual who uses it for his or her own selfish needs dishonestly or illegally is embezzlement.
Unfaithful employees, agents, servants, guardians, and trustees who misappropriated another’s property could be sued in civil courts. The guilty can be sued on the grounds of legally possessing the property and breaching his owner’s trust by wrongfully misappropriating it to his or her own use.More...
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Employee theft is a serious issue in a business concern. Business and organizations suffer over $50 billion every year due to employee theft. According to national estimates, 75 percent of all employees steal, use or misuse assets from their employers at least once a year. As per the survey conducted by CareerBuilder, more employees in the IT, healthcare, and manufacturing industries admitted to theft at the office than employees in the retail, hospitality and sales.