Embezzlement

01-10-2011 12:00 AM - عدد القراءات : 3376
كتب elhossien mahmoud elhossien@hotmail.com
When a person holding office in an institution, organisation or company dishonestly and illegally appropriates, uses or traffics the funds and goods they have been entrusted with for personal enrichment or other activities.29

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Example in practice
 
Chung Mong Koo, former chairman of Hyundai Motors Co. was convicted in 2007 of embezzling US$ 110 million from company funds, a portion of which was allegedly used to pay off politicians andgovernment officials.30
 
Relevant links
 
—— TI Global Corruption Report 2004 – Political Corruption.
 
—— U4 Brief: Embezzlement of Donor Funding in Health Projects.
 
29 South East Europe Regional Anti-Corruption Initiative Glossary http://www.rai-see.org/glossary-.html
 
 
USAID, TATWEER Anti-Corruption Glossary http://www.tatweer-iraq.com/content/resources/detail/812
 
 
United Nations Development Programme, Tackling Corruption, Transforming Lives: Accelerating Human Development in the Asia and the Pacific (New Delhi: Macmillan, 2008).
 
30 BBC News. “Hyundai’s boss gets three years”. 5 February 2007. http://news.bbc.co.uk/2/hi/business/6329173.stm.