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What is the definition of misappropriation of funds?

Carlton Burgess

in Student Loans

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Samantha Barber on February 12, 2018

A dictionary definition of misappropriation of funds is the intentional, illegal use of the property or funds of another person for his own use or any other purpose not authorized, especially by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any person with the responsibility to care for and protect another's assets (a fiduciary duty). In short, the misappropriation of funds is defined as fraudulent use of funds of money by a person, persons, entity or entities, other than their legal or rightful owner. The rapid is a synonym for theft.

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