Happy Monday! Today I’m introducing a term that is generally used in a legal sense . . . and while, embezzlement is how people would generally refer to this type of behavior, it only after there has been a large scale defalcation that many companies discover the crime.
\ dee-fal-kay-shuh n, -fawl- \, noun;
1. misappropriation of money or funds held by an official, trustee, or other fiduciary.
2. the sum misappropriated.
Source: The Highly Selective Dictionary for the Extraordinarily Literate by Eugene Ehrlich.
Tags: Defalcation, Embezzlement, Eugene Ehrlich, Misappropriation, The Highly Selective Dictionary for the Extraodinarily Literate, Vocabulary