defalcation : Definition, Usages, News and More

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  • n  the sum of money that is misappropriated
  • n  the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else

  • Last month a jury pronounced Treasurer Baldwin guilty of perjury by falsifying bank statements to cover up the defalcation.
  • They decided that they had to share a collective responsibility for not having discovered the defalcation earlier.
  • No danger was there of defalcation, however.

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