Embezzlement

Embezzlement is an act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud, e.g. a lawyer may embezzle funds from the trust accounts of his or her clients; a financial advisor might embezzle the funds of investors or a husband or wife may embezzle from a bank account jointly held with the spouse.