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defalcate

verb

/ˈdiːfalkeɪt/

IPA:

Dictionary definition of defalcate

To embezzle or misappropriate funds that have been entrusted to someone's care or management.
"The accountant created a scheme to defalcate money from the company."

Detailed meaning of defalcate

This can include taking money or property that belongs to an individual or organization, such as funds that have been deposited in a bank or invested in a business. Defalcation often involves a breach of trust or fiduciary duty, as the perpetrator is abusing their position of responsibility to enrich themselves at the expense of others. Defalcation may be carried out through various means, such as fraudulent accounting practices, falsifying financial statements, or diverting funds to personal accounts. Those who are found guilty of defalcation may face serious legal consequences, including fines, imprisonment, or loss of professional licensure. Overall, the term "defalcate" suggests a sense of dishonesty, exploitation, and breach of trust, and is often used to describe acts of financial corruption or fraud.

Example sentences containing defalcate

1. The corrupt official will defalcate funds from the municipal budget.
2. If you defalcate funds, you will face severe legal consequences.
3. The treasurer was found to defalcate the organization's funds for personal gain.
4. The manager warned the staff that anyone who attempts to defalcate will be fired and prosecuted.
5. The auditor discovered that someone within the company had been attempting to defalcate funds.
6. The suspect will defalcate the charity’s proceeds if not closely monitored.

History and etymology of defalcate

The verb 'defalcate' has an intriguing etymology that traces its origins to Latin and Old French. It stems from the Latin word 'defalcare,' which means 'to cut off' or 'to deduct.' In the context of finance and accounting, it referred to the act of deducting or withholding a portion of funds. This Latin term evolved into the Old French word 'defalquer,' which had a similar meaning related to financial deductions. Over time, 'defalcate' entered the English language, retaining its essence of financial deduction but with a darker connotation – that of embezzling or misappropriating funds that were entrusted to one's care or management. The etymology of 'defalcate' thus reflects the transition from a legitimate financial action to an illicit act of financial manipulation and deceit.

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Further usage examples of defalcate

1. The new financial software makes it almost impossible for employees to defalcate funds.
2. They hatched a plan to defalcate the funds raised for disaster relief.
3. The board members were shocked to find out that their trusted colleague had tried to defalcate company funds.
4. The investigation revealed that several individuals conspired to defalcate government funds.
5. He attempted to defalcate the inheritance money entrusted to him for the orphans.
6. The financial controller set up fake vendor accounts to defalcate from the firm.
7. To defalcate funds without being noticed, the bookkeeper made many small transactions over several months.
8. Banks have stringent measures in place to ensure employees do not defalcate funds.
9. The cashier made up fictitious refunds to defalcate from the retail store.
10. The finance officer used a complex network of accounts to defalcate funds undetected.
11. She had to defalcate from the funds out of desperation, but she knew it was wrong.
12. The employees didn’t realize that by not reporting the irregularities, they were helping their boss to defalcate.
13. The non-profit organization lost its credibility when it was revealed that the director had defalcated donation funds.
14. The politician was accused of defalcating public funds for personal expenses.