Embezzlement is a crime that involves the misappropriation or theft of funds or property entrusted to someone’s care for personal gain. In these cases, the embezzler has legal authority to possess the funds, but the assets are then used for unlawful or unintended purposes. In other words, embezzlement generally occurs when there is a breach of trust between an individual entrusted with the management or safeguarding of funds and the rightful wonder of those funds.
Fraudulent intent is a key element in embezzlement cases. However, it is important to keep in mind that embezzlement and fraud are not actually the same thing. It is crucial to differentiate between these two terms in order to help determine which type of lawyer is best suited to handle your case.
Fraud typically occurs when someone uses deception or misrepresentation to obtain money or property from another individual. In general, fraud is a broader category of financial misconduct that encompasses a wide range of deceptive activities. Unlike embezzlement, fraud does not necessarily require a pre-existing relationship or level of trust between the perpetrator and the victim. Fraud can be committed by someone with little to no relationship whatsoever with the victim.
Embezzlement, on the other hand, is a more specific type of financial crime that occurs when an individual is entrusted with managing or safeguarding someone else’s funds. The embezzler breaches the trust of the victim by misappropriation or stealing the funds or assets they are in charge of. When it comes to embezzlement, there is usually an established relationship of trust between the perpetrator and the victim, such as an employee stealing from an employer, a trustee diverting funds from a trust and so on. If you are concerned that someone may be embezzling funds or property under your name, taking action as soon as possible is critical. Speak with an experienced attorney to help assess the situation and navigate the legal process.
Embezzlement can have grave consequences on an individual or organization's financial stability. Here are a few key red flags that may signify embezzlement:
If you suspect embezzlement at your organization, have questions about prevention strategies, or have been accused of embezzling funds, our legal experts at Attorney at Law can help. Our experienced attorneys provide guidance tailored to your specific situation, so you can put effective policies in place, investigate suspicious activity, and take appropriate legal action if needed. Consult with an expert at Attorney At Law today.
