Defalcation
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Business, Social Studies
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University
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Hard
Wayground Content
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Defalcation is a synonym for embezzlement, involving the illegal use or misappropriation of funds by someone entrusted with them. It is typically committed by high-level individuals like executives or public officials. Unlike embezzlement, which often involves personal use of funds, defalcation can also include mismanagement for personal or related parties' benefit. It is a criminal act with intent to misuse funds, making it broader than simple embezzlement.
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