If you are glee club treasurer, and you pocket twenty glee dollars saying you used it to buy lozenges, you are committing embezzlement, the theft of money or property that you officially manage.

In order for stealing to be embezzlement, you need to both be in charge of the funds or property you are stealing, and you need to conceal your theft. Because of this, it is classified as a type of fraud. People who commit embezzlement often create fake paper trails — receipts, canceled checks, false signatures — to hide their crime.

Definitions of embezzlement

n the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else

defalcation, misapplication, misappropriation, peculation
an attempt by speculators to defraud investors
the act of plundering (especially the embezzlement of goods on shipboard)
Type of:
larceny, stealing, theft, thievery, thieving
the act of taking something from someone unlawfully

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