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Verb: defalcate  di'fal,keyt or 'de-ful,keyt [N. Amer], 'dee,fal,keyt or 'de-ful,keyt [Brit]
  1. Appropriate (as property entrusted to one's care) fraudulently to one's own use
    "The accountant defalcated thousands of dollars while working for the wealthy family";
    - embezzle, peculate, misappropriate, malversate

Derived forms: defalcated, defalcates, defalcating

Type of: rip [N. Amer, informal], rip off [informal], steal

Encyclopedia: Defalcate