What is Embezzlement Definition and Famous Cases

Embezzlement is defined as the misappropriation of funds or property by someone who lawfully controls such funds/property, without the knowledge of the owner. It is considered a crime under the federal criminal code and state statutes, and is punishable by jail time, fines, and/or restitution. Did You Know? One of the most famous embezzlement cases in U.S. history was that of Bernie Madoff, who embezzled over $50 billion from investors through a Ponzi scheme. Elements of Embezzlement According to the U.S. Criminal Code, in order to charge a person with embezzlement, the prosecutor must prove four elements: There was a trusted relationship between the person accused of embezzling funds and the institution or owner of the funds.The person was given control of the funds through employment.The person took the funds for private use.The person â€Å"acted with the intent to deprive the owner of the use of this property.† In order to prove embezzlement, a prosecutor must show that the defendant was substantially in control of the misappropriated funds. Substantial control can be demonstrated through employment status or contractual agreement. When proving embezzlement, it doesnt matter whether the defendant remained in control of the funds. An individual can still be charged with embezzlement even if they transferred the funds to another bank account or a separate party. Embezzlement charges also hinge on intent. The prosecutor must show that the embezzler intended to use the funds for himself. Types of Embezzlement There are multiple types of embezzlement. For example, some embezzlers go undetected for years by â€Å"skimming off the top† of the funds that they are employed to control. This means that they take small amounts of money from a large fund over a long period of time, hoping that the missing amounts will go unnoticed. In other cases, an individual will take a large amount of money at once, then attempt to hide the embezzled funds or even disappear. Embezzlement is generally considered a white-collar crime, but smaller forms of embezzlement also exist, such as taking funds from a cash register before balancing it at the end of a shift and adding extra hours to an employee timesheet. Other forms of embezzlement can be more personal. If someone cashes their spouse or relatives social security check for personal use, he or she can be brought up on embezzlement charges. If someone â€Å"borrows† money from a PTA fund, sports league, or community organization, they can likewise be charged with embezzlement. Jail time, restitution, and fines may vary based on how much money or property was stolen. In some states, embezzlement may also be a civil charge. A plaintiff might sue someone for embezzlement to receive a judgment in the form of damages. If the court finds in favor of the plaintiff, the embezzler is liable for the sum of damages. Embezzlement vs. Larceny Larceny is sometimes used interchangeably with embezzlement, even though the two terms are legally very different. Larceny is the theft of money or property without consent. According to U.S. federal code, larceny charges must be proved through three elements. Someone accused of larceny must have: Taken funds or property;Without consent;With the intent to deprive the institution of the funds. The need for embezzlement as a separate charge arose out of these elements. People engaged in embezzlement schemes do in fact have consent to be controlling the funds they take. On the other hand, a defendant charged with larceny never lawfully possessed the funds. Larceny is commonly referred to as outright theft, while embezzlement can be viewed as a form of deception. Famous Embezzlement Cases The most famous embezzlement cases unsurprisingly come with the highest price tags. The startling sums of money taken by the defendants accused and convicted of fraud have made some of them household names. In 2008, an investment advisor named Bernie Madoff was arrested for taking over $50 billion in funds from investors—the largest embezzlement case in history. Madoff carried out his scheme undetected for years. His Ponzi scheme used money from new investors to pay off old investors, making them believe that their investments were a success. Madoff pled guilty in 2009 and received a 150-year prison sentence for his conduct. The scandal rocked the investment banking world and altered the lives of the people and institutions who had invested their savings with Madoff. In 1988, four employees of the First National Bank of Chicago attempted to steal a total of $70 million in funds from three separate accounts: the Brown-Forman Corporation, Merrill Lynch Company and United Airlines. They planned to charge the accounts with overdraft fees and transfer the money to Austrian bank accounts through three separate transfers. The employees were arrested by the Federal Bureau of Investigation after the outrageously large overdraft fees were flagged. In 2012, a court sentenced Allen Stanford to 110 years in prison for embezzling over $7 billion. The international Ponzi scheme gave Stanford and his associates control of investors assets with the promise of returns from safe investments. Instead, prosecutors alleged that Stanford pocketed the money and used it to fund a luxurious lifestyle. Some of Stanfords investors lost everything, including their homes, after a Securities and Exchange Commission (SEC) investigation landed Stanford in prison. Sources Embezzlement.  Britannica Academic, Encyclopà ¦dia Britannica, 11 Aug. 2018.  academic-eb-com.resources.library.brandeis.edu/levels/collegiate/article/embezzlement/32506. LII Staff. Embezzlement.  LII / Legal Information Institute, Legal Information Institute, 7 Apr. 2015, www.law.cornell.edu/wex/embezzlement.1006. Larceny.  The United States Department of Justice, 18 Dec. 2015, www.justice.gov/usam/criminal-resource-manual-1006-larceny.1005. Embezzlement.  The United States Department of Justice, 18 Dec. 2015, www.justice.gov/usam/criminal-resource-manual-1005-embezzlement.Possley, Maurice and Laurie Cohen. $70 Million Bank Theft Foiled Chicago Tribune  19 May 1988. Web.Krauss, Clifford. Stanford Sentenced to 110-Year Term in $7 Billion Ponzi Case New York Times 14 June 2012. Henriques, Diana B. and Zachery Kouwe. Prominent Trader Accused of Defrauding Clients New York Times 11 Dec. 2008.Henriques, Diana B. Madoff is Sentenced to 150 Years for Ponzi Scheme New York Time s 29 June 2009.

`` All Star Superman `` And `` The Yellow Wallpaper ``

Right from the start of â€Å"All-Star Superman,† we are introduced to colorful panels that integrates the use and symbolism of colors. Throughout written literature, from â€Å"Red Wheelbarrow† to â€Å"The Yellow Wallpaper,† color has been a consistently used technique to add extra meaning to subjects. The use of that symbolism in the comic book medium makes sense, since color can be shown instead of conveyed. To try and establish the colors meaning in â€Å"All-Star Superman,† we can look at it’s repeated use and try and determine what the pattern between them is. Take for example the color purple: on pages 146-147, the funeral is done out in purple; another example is on page 236, Regan is wearing only purple. Between those two situations, the connection†¦show more content†¦We see more of this same example on pages 92, 96 and 197, as in that they are all green panels that occur on or near the moonbase. On page 219-221, we are in Superm an’s lab, which has a green background very similar to that of Quintum’s lab. This use of green is not limited to backgrounds or outfits either. From pages 48-50, Lois Lane is preparing to use a kryptonite gun on Superman. The item itself is primarily green and fires green mist, which also makes sense because kryptonite is green. On page 106, we see Luther fiddling with a device that is a mobile library. When this device speaks, even its speech bubbles are done out in this green shade. This scientific symbolism makes sense here too, as these are very scientific machines. Jumping ahead to the use of another color, we have yellow. Whenever yellow appears in this comic, it is usually in regard to very powerful, ultimate things. Take for example page 149. On page 149, the â€Å"leader of the Superman Squad† (who is presumably an older, original superman) gives the modern, original superman an â€Å"indestructible flower.† The leader and the flower are both a golden yellow, which gives both of them a feeling that they are powerful and mysterious. On page 40, Superman is making miniature suns to feed to his sun-eater. These suns are a similar shade of golden yellow, andShow MoreRelatedBrand Building Blocks96400 Words   |  386 Pagesthat internal forces and biases, which are under the control of the organization, cause many of the formidable problems facing brand builders today. 1. Pressure To Compete On Price There are enormous pressures on nearly all firms to engage in price competition. In all industries from computers to cars to frozen dinners to airlines to soft drinks, price competition is at center stage, driven by the power of strong retailers, value-sensitive customers, reduced category growth, and overcapacity

In the high tech age of today, business are lookin Essay Example For Students

In the high tech age of today, business are lookin Essay MIAg for new ways to expand and get their products out to the market. We already have many laws and organizations that encourage this and try to help out the corporations. NAFTA, GATT, WTO and EECU are all set up with corporations in mind. We are all striving for a free market economy so that everyone has a chance but what risks will that impose on the consumer. That is where the MAI comes in. The Multinational Agreement of Investors is trying to reach for The MAI has been being discussed since 1995. It started off as an idea in the WTO and when some of the smaller countries rejected it, it went to the Economic Cooperation and Development. This organization is made up of the 29 wealthiest countries which are home to 95% of the top 500 corporations. This new agreement is very strong and that is why it is still being held up in the discussion stage. If it does come true it will allow corporations to build anywhere and make what they want that they think that they can sell. it will also let the corps. move capitol more freely. The main viewpoint for this is that it will eliminate discrimination of the corporations nationality. The downfalls are that it gives the corporations the power to suegovernment of the country that it is in if the corporation feels that its right to make profit is being harmed. his comes as a big problem because then the corporation no longer has to worry about doing things a certain way as long as they make money. This leaves the people in the state helpless against their pollution and pricing power. As of now this agreement is still being held up because France and Canada dropped out of the discussions due to the large Non-Government Organizations that are protesting the MAI. The other countries are trying to revive it because they think in the long run it will be beneficial as we globolize are economies more. I am very glad that the MAI is being held up right now. I feel that letting a corporation become its own sovereign state is going to far. I want to have my share in making money but it is still important to respect others believes and that is what the MAI does not do. If that got passed I think that we would finally have a free market economy and that it would crush everything. Bibliography:

Mumbaki Essay Example

Mumbaki Paper Every individual has its own culture, belief and different practices but we should respect each everyone about this matter even though sometimes it is very difficult to understand their practices. The word Mumbaki has its own meaning. It is about an Ifugao religious specialist meaning sayer of prayers in the Christian world they called them Intercessors. Almost every adult in the region is a Mumbaki who practices the tenets of the religion which they are associated with. These Mumbakis offers prayers during wedding, thanksgiving, funeral and other occasions. They have memorized almost every oral traditions, stories and lineages which are passed on from generation to generations which they perform as rituals. The story is about the son of an Ifugao Chieftain named Joseph who returns to his tribe after the death of his father (an Ifugao Chieftain who was killed in a tribal dispute with the Alimit tribe. He was about to live the Philippine to US with his fiancee, however was obliged to return to the Lidum tribe where he was chosen to lead the battle againts the Alimit tribe. Joseph is a young doctor who return to bury his father. While there, he discovers his rich heritage and acquire pride in his being an Ifugao. He is unable to resist the urge to help his village, which has resisted modern medicine and is in the midst of pneumonia epedemic and civil war. It covers the adaptation new way of curing illness of people but it will disobey their beliefs where they believe that their Baki or Gods may perish them in any curse. We will write a custom essay sample on Mumbaki specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mumbaki specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mumbaki specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The story begins with the conflict between the unsettled marriage. And also they argued about the boundaries of their territories, where who should own the old tree between the two tribe. Each them ask explanation that ends up the leader of Lidum tribes death and those start of the beginning of war for revenge and justice. The Lidum tribe believes that once they cannot have the justice of death of the leader they will suffer like experiencing different illness and wars that may cause to death of other people too. And all the tribe in Ifugao does not believe the medicine that given to them by their doctor. They believe that only their Mumbaki can help and save them with help of their Baki because he is the one sent by Baki to save them. But the epedemic disease become worst which lead to death of many people. Nowadays, scientist, doctors, engineers, etc†¦ discover many things that could help our society to become more progressive to cure many diseases and illness and in terms of communication and transportation we are now more advance. But sometimes because of our culture, all belief and practices hinder our minds to accept those things and also the tradition of different people there are instances because of hatred it will only caused a never ending war but we have one country, one government to maintain the peace and settled every problems we have through peace talk and court trials, we should respect the value of life of every individual. When youre trying to use new changes it doesn’t mean you betrayed your traditions. You are only open minded that could help for a certain circumstances.