Also known as embezzlement, it is the action in which one or more individuals misappropriate securities or funds that have been entrusted to them because of a high- ranking job or position. It is a financial fraud, a theft for profit by officials or public authority from a third party with their consent, when they are using their position due to mismanagement. Said crime will be based on the value of the amounts stolen as well as the damage or hindrance produced to the public service.
Embezzlement or embezzlement is known as a statutory offense (something ordered or constitutional), it is a crime against the patrimony or the right of an owner to control the disposition and use of the property in question. To summarize the misappropriation of funds, it is the use of money or property of others or of the State in things other than those that were intended for its use. Generally for personal benefit. Cases of embezzlement or defalcation, are at level global, affecting the economy of a countryThat is why the control of that money must be signed with the date of each of the funds, it must be of great importance, as well as the monetary monitoring that must be done to the owners of large amounts of money. All this to prevent funds destined for social works or for the growth of a nation from being used in a corrupt way or to finance projects that do not produce any benefit to the community.
There are different ways of committing the crime of embezzlement, such is the case:
- When they are in charge of any concept of funds, income or effects of the Public Administrations.
- When they are legally designated as depositories of funds or public effects.
- When they are the administrators or depositories of money or property seized, seized or deposited by the public authority, even if they belong to individuals.
