This is most likely the case of Embezzlement.
Embezzlement refers to a white-collar crime in which an individual or entity plays fraud and misappropriation the assets entrusted to them. Though the assets are acquired lawfully, the use of the same is for unintended purposes marking it as embezzlement. It is a clear breach of duties.
Embezzlement takes place when a person intentionally uses funds for a different purpose than they were intended to be used.The embezzler has permission to handle an asset in a certain way, but not to take it.
Embezzlers might create bills and receipts for activities that did not occur and then use the money paid for personal expenses . Ponzi schemes are an example of embezzlement. Others include destroying employee records or pocketing company cash. Business lost approximately $400 billion each year to theft. Embezzlers can be held civilly and criminally responsible for their crimes.
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