What is embezzlement?

Embezzlement is a type of white collar crime that is defined as the fraudulent taking of property or money for which the perpetrator had responsibility for, either as a custodian or as an agent of the owner. In South Dakota, embezzlement is a scourge, with the crime occurring in both the public and private sectors. In the simplest terms, embezzlement is when someone misuses funds in his or her control for personal gain. It could mean taking money, inventory, or other assets without the knowledge or permission of the owner. For example, if a company’s accountant were to take money from the company’s accounts without authorization, this would be embezzlement. In South Dakota, those convicted of embezzlement may be ordered to pay restitution to the victim, such as returning the stolen items, paying back the stolen money, or making other forms of compensation. Additionally, they may face jail time, hefty fines, and/or community service. Overall, embezzlement is a serious crime with potentially harsh consequences for those convicted. It’s important for South Dakota citizens and business owners to be aware of the signs of embezzlement and take steps to prevent it from occurring. Keeping accurate financial records and regularly monitoring all accounts are important steps to preventing or catching embezzlement.

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What is embezzlement?

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