Embezzlement is one kind of property theft. It occurs when someone who was entrusted to manage or monitor someone else's money or property steals all or part of that money or property for the taker's personal gain.

Where does embezzlement occur?

Embezzlement takes place when a person uses funds for a different purpose than they were intended to be used. Embezzlers might create bills and receipts for activities that did not occur and then use the money paid for personal expenses. Ponzi schemes are an example of embezzlement.

What qualifies embezzlement?

Definition. Fraudulent taking of personal property by someone to whom it was entrusted. Most often associated with the misappropriation of money. Embezzlement can occur regardless of whether the defendant keeps the personal property or transfers it to a third party.