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Embezzled Meaning: Definition, Examples, and Translations

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embezzled

[ɪmˈbɛzld ]

Definition

Context #1 | Verb

financial crimes

Embezzled refers to the act of unlawfully taking or misappropriating funds that one has been entrusted with, typically in a professional or fiduciary context. This act is a crime and is often associated with individuals in positions of authority who betray the trust placed in them by diverting money for their own personal gain. Embezzlement can occur in various organizations, including corporations, non-profits, and government entities, and often involves significant financial amounts. Convictions for embezzlement can lead to severe legal consequences, including fines and imprisonment.

Synonyms

defrauded, misappropriated, swindled.

Examples of usage

  • The accountant was caught after embezzling funds from the company.
  • She was charged with embezzling money from the charity she managed.
  • The employee embezzled large sums over several years.
  • He admitted to embezzling from clients during his trial.

Translations

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Interesting Facts

Legal Aspects

  • Embezzlement is considered a white-collar crime, often involving individuals in positions of trust, such as employees, accountants, or executives.
  • In many jurisdictions, embezzlement can lead to severe penalties, including heavy fines and imprisonment, reflecting the breach of trust.
  • Victims of embezzlement often include businesses, charities, and government entities, impacting financial stability and public trust.

Psychology

  • Research suggests that those who embezzle may rationalize their actions as a form of compensation for feeling underpaid or undervalued.
  • Psychological studies indicate that embezzlers often exhibit traits such as risk-taking behavior and low empathy towards their victims.
  • Guilt and anxiety frequently accompany embezzlement, with many feeling significant stress about being discovered.

Pop Culture

  • Embezzlement is a popular theme in films and TV shows, representing greed and moral dilemmas, such as in the movie 'Catch Me If You Can'.
  • Shows like 'Breaking Bad' also explore themes of financial deception, reflecting society's fascination with crime and consequences.
  • Notable real-life cases of embezzlement have inspired books and documentaries, unmasking the intricate schemes behind the deception.

Historical Events

  • One of the most infamous cases in American history involved Charles Ponzi, who created a scheme that embezzled millions in the 1920s.
  • Financial scandals, including the Enron and Lehman Brothers collapses, highlighted systemic embezzlement and fraud in corporate America.
  • Throughout history, significant instances of embezzlement have led to reforms in financial regulations, aiming to prevent future occurrences.

Origin of 'embezzled'

Main points about word origin

  • The word comes from the Middle French 'embesiller,' meaning 'to put away in a chest,' originally derived from roots meaning 'put away' or 'to conceal.'
  • It appeared in English around the late 17th century, becoming more common in legal contexts as financial crimes increased.
  • The prefix 'em-' is derived from Latin, implying 'to put into' or 'to cause to,' which adds a layer of meaning to the act of misappropriation.

The term 'embezzle' originates from the late Middle English term 'embezel', which comes from the Anglo-French word 'embeiseller', meaning to accumulate or to gather together. The prefix 'em-' is derived from the Latin 'in-', meaning 'into' or 'on', and 'beseller' refers to the act of claiming ownership or possession. Over time, the meaning evolved specifically to denote the act of taking property or funds for oneself that have been entrusted to one's care. By the 16th century, 'embezzle' had become firmly established in the English language, primarily in the context of legal and financial misconduct. Throughout the centuries, embezzlement cases have been a significant concern for businesses and government institutions alike, leading to the implementation of stricter laws and regulations surrounding financial management and accountability.

Word Frequency Rank

At rank #26,347, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.