Here's a breakdown:
* Fraudulent: The act is intentional and done with the purpose of personal gain.
* Appropriation: The person takes possession of the funds or assets for their own use.
* Entrusted: The funds or assets were placed in their care, usually through a job or position of trust.
* Care: The person is responsible for managing and protecting the assets.
Examples of embezzlement:
* A cashier pocketing cash from sales instead of depositing it.
* A company accountant diverting funds from the company account to their personal account.
* A lawyer misusing client funds for personal expenses.
* A trustee using trust funds for their own benefit.
Consequences of embezzlement:
Embezzlement is a serious crime with significant consequences, including:
* Criminal charges: It's a felony in most jurisdictions.
* Jail time: The length of the sentence varies depending on the amount stolen and other factors.
* Fines: The amount of the fine can be substantial.
* Restitution: The embezzler may be ordered to pay back the stolen funds.
* Damage to reputation: Embezzlement can have a devastating impact on the embezzler's career and reputation.
It's important to note that embezzlement is a crime of trust and can be difficult to detect. However, there are measures that can be taken to help prevent it, such as regular audits, strong internal controls, and background checks on employees.