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Information about, and examples of, embezzlement

On Behalf of | May 26, 2021 | Blog |

White-collar crimes constitute crimes that do not include violence or physical force. These types of crimes generally have financial motivation, and common characteristics are the violation of trust, concealment and deceit for one’s financial gain.

Embezzlement is one type of white-collar crime, and there are various examples of it.

Embezzlement definition

According to Northcentral University, embezzlement occurs when a company or person entrusts an individual to manage property or money, and this individual uses it for his or her gain. This person also has no intention of returning it.

Common examples of embezzlement

One example is that an employee siphons money out of petty cash and spends it on personal expenses. Another example is when a politician uses funds from the campaign for personal use.

According to FindLaw, most cases of embezzlement occur in corporations and other employment environments. This crime can be at the state level, or it can be a federal crime if the individual misuses government-owned money, records or property. Some embezzlement examples:

  • Falsification of records
  • Illegal billing
  • Ponzi schemes
  • Conversion of company property, such as a vehicle or laptop, for selling purposes
  • Writing payroll checks to fake employees

Elements necessary to prove embezzlement

Each state may have its own elements needed for embezzlement proof, but there are four common ones. One party must rely on the other, and the property or funds the defendant obtained must come from that relationship. There must be proof the defendant gave the property to someone else or took ownership for him or herself, and there must be proof the defendant intentionally stole from the other party.