Embezzlement is a theft crime that involves taking property that you already possess, but do not own. With embezzlement, a person who is entrusted to manage or control someone else's property uses that property inappropriately, and to the person's own benefit. An employee who uses company property for his personal projects commits embezzlement. Embezzlement can encompass both money and other forms of property.
Misappropriation of funds is embezzlement of money only. For example, the treasurer of a club who diverts club funds to his own bank account has both embezzled and misappropriated the money.
