BNET Business Dictionary
Business Definition for: Embezzlement
- the illegal practice of using money entrusted to an individual's care by a third party for personal benefit
Wiktionary Definition for: Embezzlement
- # law economics The fraudulent conversion of property from a property owner.
Additional Resources
- A nonprofit lesson.(Opinion)(Capital Area United Way embezzlement case)(Brief Article)
- Financial scandals leading to corporate meltdowns are commonplace in newspapers nationwide. Now an embezzlement case in East Lansing is turning a spotlight on financial controls in nonprofits as well. Crain's nonprofit Web site, www.michigannonprof Financial scandals leading to corporate meltdowns are commonplace in...
- Research articles 2003-01-27
- Hyundai chairman jailed in embezzlement and slush-fund scandal.(INDUSTRY NEWSLINE)
- The chairman of Hyundai Motor Co. was arrested and jailed last month in an embezzlement and slush-fund scandal at South Korea's largest automaker. According to the Associated Press, Chairman Chung Mong-koo, 68, was accused of embezzling about $106 mi The chairman of Hyundai Motor Co. was...
- Research articles 2006-05-01
- SEC VP BEING INVESTIGATED FOR CAPITAL EMBEZZLEMENT
- AsiaInfo Services 08-09-2006 SEC VP Being Investigated for Capital Embezzlement SHANGHAI, Aug 09, 2006 SinoCast via COMTEX -- Shanghai Electric Group Corporation vice president Han Guozhang is being investigated in a named place because he AsiaInfo Services ...
- Research articles 2006-08-09
- Judge blows his top in Marseille embezzlement trial
- MARSEILLE, France AFP — Tempers flared during the seventh day of an embezzlement and bribery trial involving former chiefs of Marseille football club as the trial judge blasted defendants for keeping silent. Judge Vincent Turbeaux blew his top after former Marseille deputy chairman Yves Marchand failed to answer questions...
- Research articles 2006-03-21
- Dioceses report many embezzlement cases
- VILLANOVA, Pa. AP -- An overwhelming majority of respondents in a study of financial controls in U.S. Roman Catholic dioceses reported cases of embezzlement in the past five years. Eighty-five percent of the diocesan administrators who took part in the review told Villanova University researchers that internal thefts...
- Research articles 2006-12-30
- Study finds embezzlement to be common in dioceses
- A new study by Villanova University has found that 85 percent of Roman Catholic dioceses in the United States have discovered embezzlement during the last five years, with 11 percent having been embezzled out of more than a half-million dollars each. Twenty-nine percent of dioceses answering the survey reported embezzlements...
- Research articles 2007-01-05
- Embezzlement seen in 85% of Catholic dioceses
- A survey by researchers at Villanova University has found that a surprising 85 percent of Roman Catholic dioceses that responded had discovered embezzlement of church funds in the past five years, with 11 percent reporting that more than $500,000 had been stolen. The Catholic Church has some of...
- Research articles 2007-01-05
- Employee accused of embezzlement; stole small amounts over time.(Brief Article)
- A University of Colorado employee is accused of misappropriating $153,000 in funds from the university between 1999 and 2003. Ruth Ann Cameron, an administrative staff member in the linguistics department, was arrested in late July, and charged with two counts of theft over...
- Research articles 2004-08-01
- Thai Court Acquits Petrochemical Firm's Administrators of Embezzlement Charges.
- Bangkok Post, Thailand Knight Ridder/Tribune Business News Jan. 24--The administrators of Thai Petrochemical Industry Plc were acquitted yesterday of embezzlement charges by the Criminal Court of Southern Bangkok. The charges had been lodged against Effective Planners and Anthony Norman, the...
- Research articles 2002-01-24
- Former Massachusetts Teachers Union Official Targeted in Embezzlement Probe.
- By Anand Vaishnav, The Boston Globe Knight Ridder/Tribune Business News Mar. 27--The Massachusetts Teachers Association's former finance director is under investigation after the theft of $802,000 from the prominent labor union, in what association leaders described as a "sophisticated embezzlement ...
- Research articles 2003-03-27
- Insurance Company Sues Accounting Firm for Not Discovering Embezzlement.
- By David Doege, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News Jan. 9--WAUKESHA, Wis. -- The insurer for Pewaukee-based Roundy's Inc. is suing the accounting firm Deloitte & Touche over a $1.7 million embezzlement committed by a former corporate officer now serving...
- Research articles 2004-01-09
- Court Documents Detail Embezzlement Case against Florida Hospital Official.
- By Bob LaMendola, South Florida Sun-Sentinel Knight Ridder/Tribune Business News Aug. 8--The former finance chief of the North Broward Hospital District wrote at least seven district checks to herself totaling $55,200, apparently using the money to pay debts and back taxes, ...
- Research articles 2003-08-08
- Bank Employee Indicted in Embezzlement Scheme Reports U.S. Attorney
- To: STATE EDITORS Contact: Christina DiIorio-Sterling of U.S. Attorney's Office, +1- 617-748-3356, USAMA.MEDIA@USDOJ.GOV BOSTON, March 7 /PRNewswire-USNewswire/ -- A Boston woman was charged yesterday in federal court with embezzlement from a federally insured financial institution. United States Attorney Michael J. Sullivan and Warren T. Bamford, Special Agent in Charge...
- Research articles 2008-03-07
- Bank of China's Hong Kong Branch Investigates Possible Embezzlement.
- M2 PRESSWIRE-9 August 2004-Axcess News: Bank of China's Hong Kong Branch Investigates Possible EmbezzlementC1994-2004 M2 COMMUNICATIONS LTD RDATE:08092004 Hong Kong - AXcess News (www.axcessnews.com) - The Bank of China's Hong Kong operation has suspended two top executives on suspicion of...
- Research articles 2004-08-09
- Marsh Employee Arrested On Embezzlement Charges.(Brief Article)
- An employee of New York-based mega-broker Marsh Inc. was arrested April 26 in Los Angeles on charges of embezzlement. The employee, Orlando Sarmiento, has been placed on indefinite leave, according to a Marsh representative, Barbara Perlmutter. The company does not yet know...
- Research articles 2000-05-15
- FRIENDS NO MORE: Sloan suit troubling for firm; Justin Beckett, 13 others accused of embezzlement and fraud through New Africa Opportunity Fund.(Maceo Sloan, Sloan Financial Group)(Brief Article)(Statistical Data Included)
- DURHAM, N.C. - Even the crown prince of the minority money management world - Maceo Sloan - may have trouble shrugging off the latest controversy enveloping his financial empire. Mr. Sloan alleges the man many called his alter ego - Justin F. Beckett -...
- Research articles 2001-03-05
- FDIC clamps down on South Side bank: FBI probes O'Hare currency theft.
- Highland Community Bank, Chicago's second-largest black-owned bank, has run into turbulence and stepped-up federal scrutiny after the apparent embezzlement of more than $1 million from the foreign currency exchanges it operates at O'Hare Internationa Highland Community Bank, Chicago's second-largest black-owned bank, has run into turbulence...
- Research articles 2000-03-27
- WSU ignores a problem.(Wayne State University)(Brief article)
- One of the more curious imbroglios in local media has been the embezzlement indictments of former Michigan Public Media employees. The Michigan Public Media is owned by the University of Michigan and operates public radio and TV stations. Three One...
- Research articles 2006-05-22
- The postmaster sings: Congress. (investigation of House Ways and Means Committee chairman Dan Rostenkowski) (American Survey)
- A former House official is being investigated on charges of embezzlement, and there are rumors that Rostenkowksi was involved in the scheme. He may have been unaware of rule changes regarding expense allowances for congressmen or simply exploiting CongresA former House official is being investigated on charges of embezzlement, and...
- Research articles 1993-07-31
- NHK: public broadcaster under siege.(NHK charges good price for its services)
- "Quo vadis, NHK?" is probably one of the most frequently asked questions among Japan's broadcasting professionals as well as tens of millions of NHK viewers. Ever since the few scandals over embezzlement by NHK senior producers of popular "Quo vadis, NHK?" is probably one...
- Research articles 2006-05-01
