What is embezzle definition?

Embezzlement is a type of financial fraud in which an individual with access to money or property belonging to a company or organization takes the assets for their personal financial gain. Embezzlement can be committed by employees, managers, officers or executives in both private and public sector organizations. The crime is typically committed over an extended period of time to avoid detection. Embezzlement can take many forms, including falsifying records, stealing cash or checks, manipulating invoices, or artificially inflating expenses. It is usually considered a serious crime, punishable by imprisonment, fines, and other legal penalties.