Embezzlement

Embezzlement is a crime which entails that one appropriates something that actually belongs to someone else, but which is already in the custody or under the control of the person committing embezzlement. Embezzlement is therefore similar to theft, yet differs from it in that one is already in possession of what one is accused of misappropriating. This custody or possession over the property or funds must thereby be lawful, in order to be embezzlement. An example of embezzlement might be a lawyer who uses money from a client account for private purposes, for example, or for private investments or payment of debts that do not concern the client. Another example might be when an employed director, CFO, accountant or bookkeeper transfers funds to themselves from the company in which they are employed. This results in an unjust gain that is matched by a loss to the company, which then becomes the wronged party.