What Is Embezzlement?

Shows and movies can popularize a word or phrase, but just because people know a term, that doesn’t mean they know the term. The word “embezzlement” is one of the terms that many people know about, but few actually know what it means. However, Hager & Schwartz is here to explain the legal definition of the term embezzlement.

Defining Embezzlement

Embezzlement is a form of theft, but instead of stealing something that was never in the person’s possession, it’s stealing something that the person has no personal claim on but has control over.

A perfect example of embezzlement is when an investment manager siphons money from an account he controls. Even though the manager manages the account, the money isn’t his, which means he is stealing his client’s money, which is embezzlement.

Common Embezzlers

Several people can embezzle property or funds from clients or businesses, but some workers are more likely to embezzle than others.

The most common embezzlers include:

  • Bank tellers or bank managers;
  • Retail workers who steal clothes from the store;
  • Bookkeepers;
  • Payroll managers.

Now you know what embezzlement is, it’s stealing from something that you manage or control.

Have You Been Accused of Embezzlement?

If you or a loved one was accused of embezzling, you don’t have to face a judge on your own. You can hire Hager & Schwartz, an award-winning criminal defense firm that knows how to get results for its clients.

Need to talk to an attorney? Call (305) 330-1360 now for a free consultation for your case.