Defalcation

Defalcation is a synonym for embezzlement, involving the illegal use or misappropriation of funds by someone entrusted with them. It is typically committed by high-level individuals like executives or public officials. Unlike embezzlement, which often involves personal use of funds, defalcation can also include mismanagement for personal or related parties' benefit. It is a criminal act with intent to misuse funds, making it broader than simple embezzlement.

What is defalcation primarily associated with?

• Legal investment of funds

• Misappropriation of funds

• Public fund allocation

• Charitable donations

Who is most likely to commit defalcation?

• High-level executives

• Entry-level employees

• Interns

• Mid-level managers

How does defalcation differ from embezzlement?

• It involves only public funds

• It is committed by lower-level employees

• It includes intentional mismanagement for personal gain

• It is always accidental

What is a key characteristic of defalcation?

• Legal transfer of funds

• Accidental loss of funds

• Intentional mismanagement of funds

• Unintentional misuse of funds

In what context is defalcation discussed in the video?

• Civil law

• International law

• Corporate law

• Criminal law