Sections §§ 656 and 657 of the U.S. Code also discuss the offense of embezzlement and apply to an insider who embezzles funds or property of a financial institution. The charge of embezzlement is therefore very close to that of misapplication.
Embezzlement means the fraudulent appropriation of property by a person who was entrusted with the property. In order to secure conviction for a charge of embezzlement, the government must prove that the accused had lawful possession, either actual or constructive, of the property in question.
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