Definition - What does Embezzlement mean?
The term embezzlement refers to the stealing of property or money (funds) of a company, employer, or government. It also means misrepresentation of assets, funds, or property which is held by a party due to trust.
Justipedia explains Embezzlement
Under common law, embezzlement was not recognized as a crime. Since the crime is seen differently under different jurisdiction, the punishment for the crime also varies. It can be imprisonment, fine, or even both. This is a crime that is commonly seen under the umbrella of "white collar crimes."