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In criminal law, misappropriation is the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a deceased person's estate or by any person with a responsibility to care for and protect another's assets (a fiduciary duty).
The nonprofit Mississippi Community Education Center (MCEC) received $2.5 million in federal grant funds diverted from Mississippi's TANF welfare funds, as well as tens of millions in public funds as an element of the scheme. The Mississippi state auditor has termed the scheme "the largest public embezzlement case in state history".
In June, Jackson Mayor Chokwe Antar Lumumba announced the discovery of "what we believe to be the misappropriation of funds." The city's director of human resources, Toya Martin, found ...
The classic example of defalcation occurs when a trustee recklessly invests trust funds and loses the money. If the beneficiary wins a judgment against the trustee, and the trustee files for bankruptcy , the debt (the judgment) cannot be discharged in bankruptcy because the debt was the result of a defalcation.
"After reviewing the alleged misappropriation of funds, the city has made adjustments to its internal controls in the interest of safeguarding against similar situations from occurring in the future.
The state attorney general filed a lawsuit in 2020 to dissolve the NRA amid allegations the organization violated laws for non-profit groups, committed tax fraud and took millions for personal use.
One city employee has been terminated due to misappropriation of funds, according to an announcement by Jackson Mayor Chokwe Antar Lumumba at a press conference Monday.
Large sums of money were transferred from AVA's money market account to its checking account in December, and then the money was spent. Unauthorized contracts for future conferences were made. Delving deeper, AVA found other signs of mismanagement, misappropriation of restricted funds and abusive, unauthorized spending.