Fraudulent Use of Others’ Money

Fraudulent use of others’ money crossword clue. 12 letters appear on Quick CROSSWORD The The Chronicle Australia newspaper on 12 May 2017.

The answer is EMBEZZLEMENT

theft or misappropriation of funds placed in one’s trust or belonging to one’s employer.
eg: “charges of fraud and embezzlement”

Embezzlement is the act of withholding assets for the purpose of conversion (theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial fraud,

a lawyer might embezzle funds from the trust accounts of his or her clients.
a financial advisor might embezzle the funds of investors
a husband or a wife might embezzle funds from a bank account jointly held with the spouse.

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