Embezzlement

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Business Finance

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Disauss specific case an example.

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Outline
Introduction
Discourse
Example
Conclusion
References


Running head: EMBEZZLEMENT

1

Embezzlement
Name;
Date:
Institutional Affiliation:

EMBEZZLEMENT

2

Introduction
Embezzlement could have been happening even at the time this paper was being written. It is a
common malpractice which majorly happens in employee-employers situations (Fan, Lin &
Treisman, 2010 ). It has been established that most organizations are not able to recover from
harm resulting from embezzlement. In this light, it is highly essential for business owners to
ensure that employees are trustworthy and accountable before they can be assigned any
responsibilities (Fan et al., 2010). First, it is important to define what embezzlement is. Legally,
embezzlement is defined as the wrongful appropriation of funds that have been entrusted to
someone but which one cannot claim ownership (Fantaye, 2004).
Employees are the individuals who are more likely to embezzle funds. However, it is important
to note that even individuals who have been assigned fiduciary duties and responsibilities can
also be charged with embezzlement (Fan et al., 2010). Essentially, embezzlement is a fraud that
is normally undertaken knowingly (Fantaye, 2004). In the modern times, there are other types of
embezzlements which cannot be easily detected. For instance, manipulation of financial accounts
so that funds can be embezzled is a common practice in various organizations (Fan et al., 2010).
It is worth pointing out that embezzlement leads to prosecution either as criminal fraud or civil
fraud (Fantaye, 2004). A civil fraud comes about when the employer files a lawsuit against an
employee (Fan et al., 2010). However, there are factors that must be met for a crime to amount to
embezzlement as looked into in...


Anonymous
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