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defalcation
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The answer DEFALCATION has 0 possible clue(s) in existing crosswords.
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Definitions of defalcation in various dictionaries:
noun - the sum of money that is misappropriated
noun - the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else
DEFALCATION - Defalcation is misappropriation of funds by a person trusted with its charge; also, the act of misappropriation, or an instance thereof. The term is ...
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| Possible Dictionary Clues |
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| A bdefalcationb is an amount of funds misappropriated by a person trusted with its charge also, the act of misappropriation, or an instance thereof. |
| the taking or illegal use of money by someone who has responsibility for it, such as a company or government official: |
| The act of cancelling part of a claim by deducting a smaller claim which the claimant owes to the defendant. |
| embezzlement |
| the sum of money that is misappropriated |
| the fraudulent appropriation of funds or property entrusted to your care but actually owned by someone else |
| Defalcation description |
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Defalcation is misappropriation of funds by a person trusted with its charge; also, the act of misappropriation, or an instance thereof. The term is more specifically used by the United States Bankruptcy Code to describe a category of acts that taint a particular debt such that it cannot be discharged in bankruptcy. The United States Supreme Court addressed the issue in 2013, holding that "defalcation" in the context of the U.S. Bankruptcy Code requires proof of "a culpable state of mind involving knowledge of, or gross recklessness in respect to, the improper nature of the relevant fiduciary behavior." In accounting terminology, especially with respect to the area of audit, defalcation means a misappropriation of assets or theft of assets by employees or officers of a corporation. * Defalcation occurs when a debtor commits a bad act while acting in a fiduciary capacity. The classic example of defalcation is when a trustee recklessly invests trust funds and loses the money. If the benef |