Embezzlement is an act of dishonestly withholding assets for the purpose of
conversion (
theft) of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type of financial
fraud, e.g. a
lawyer might embezzle funds from the trust accounts of his or her clients; a
financial advisor might embezzle the funds of investors; and a husband or a wife might embezzle funds from a bank account jointly held with the
spouse.