Embezzlement is an improper and illegal appropriation of securities.
Embezzlement is the act and result of embezzlement : keeping public money or using it for an inappropriate purpose . The crime committed by an official who appropriates State funds or allows a third party to do so is called embezzlement.
Illegal diversion of resources
Also known as embezzlement , embezzlement involves someone improperly taking possession of securities that they were supposed to guard or manage due to their responsibility or position. This is an act of corruption that is punishable by law.
Embezzlement of public funds involves diverting resources. Suppose that, in the budget of a commune, an investment of ten million pesos is approved for the construction of a cultural center. The mayor, however, makes a maneuver to pocket two million, allocating them to a bank account that he keeps secret. To develop the work, therefore, only eight million remain. As can be seen, the communal chief, through this action, embezzles State funds.
The punishment for embezzlement depends on each legislation. It is common for someone who is found guilty to be disqualified from holding public office and must serve a prison sentence.
It is important to keep in mind that embezzlement has multiple consequences. Not only does it constitute an ethical failure and a violation of the laws , but it also causes concrete effects on the community. If a politician steals money that was going to be used to build a hospital, that hospital will not be able to be built or will not have the facilities or services provided. In this way, neighbors will suffer the consequences of corruption in their daily lives.
Legal consequences
Another term that comes into play when talking about embezzlement is " corruption ", and it is a crime that is directly related to it. Taking Spanish Law as an example, the regulation of embezzlement can be found in its Penal Code , where a punishment is specified for the public official who has committed this crime against public assets. The inherent complexity of the laws means that there is more than one type and, consequently, several degrees of penalties.
In the case of a basic crime, the penalty consists of imprisonment for a term ranging from two to six years, in addition to being disqualified from holding public office and exercising the right to vote for up to ten years. There are more details and reservations, which require in-depth knowledge of the Penal Code. For aggravated embezzlement crimes, the minimum prison term is four years, while the maximum is eight.
Furthermore, the period for which the official accused of aggravated embezzlement is absolutely disqualified has a minimum of ten and a maximum of twenty years. To distinguish this case from the previous one, we have two well-defined conditions , which draw the line between a basic crime and a serious one:
The minimum penalty for embezzlement is two years in prison.
* that the embezzlement has caused serious damage to the public service or has hindered it;
* that the amount of money that the official has unjustly appropriated is greater than 50,000 euros.
If the damage were for an amount greater than 250,000 euros, the penalty imposed for this type of embezzlement is in the upper half of the terms indicated above, with the possibility of reaching its maximum . In any case, the Penal Code contemplates the possibility for the author to partially or totally repair the damage he caused to public assets, or to work together with the authorities to identify or catch other culprits, and if so it is possible. that his penalty be lowered by one or two degrees.