In some ways, embezzlement certainly is one type of theft. It typically happens when someone who works for a business is accused of stealing from that business itself.
But it’s also very different than more traditional types of theft. Often, what happens is that someone steals money or assets that they were never supposed to have access to in the first place. But with embezzlement, the main focus is misappropriation, which can change how this crime occurs and what type of evidence would be needed during a trial.
What is misappropriation?
In many embezzlement cases, the person accused of stealing from the business did have the authority to access those funds. For instance, the chief financial officer (CFO) at the company may be allowed to access bank accounts and move money around as necessary. Accessing the accounts, and even transferring the funds, is all completely legal and within the bounds of their job.
But if they misappropriate some of those funds, it means they’re using them in a way that wasn’t intended. Maybe the financial officer transfers a significant amount of money to their own personal accounts. They then alter the paperwork or try to delete electronic records to disguise the transaction.
If someone hacked into the company bank account and stole the money, it would be a form of direct theft. But in the example above, the access is legal, and the misappropriation of those funds for personal gain is when it becomes embezzlement.
These distinctions can be very important for those who are facing criminal charges. If you’re in this position, be sure you understand all the defense options at your disposal.