June 2017 JD Supra

Misappropriation is the use of property or funds of another person for an unauthorized purpose and is classified as a felony.  In misappropriation, the perpetrator steals or misuses an organization’s belongings and resources; usually without force.  Meaning, they are taken through trickery and deceit.   Based on analysis of over 2,000 occupational fraud cases, The Association of Certified Fraud Examiners (ACFE) reports that between 5% – 7% of an organization’s revenues can be lost to asset misappropriation.  It has become a serious problem and a no win situation for all involved.