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LSDefine
Simple English definitions for legal terms
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A quick definition of peculator:
A peculator is someone who takes money that they are supposed to be taking care of, like if they work at a store or a bank. They use their job to take the money for themselves, even though it's not theirs. This is different from regular stealing because they have the right to access the money, but they're not supposed to take it for themselves. If they get caught, they could go to jail for up to 10 years.
A more thorough explanation:
A peculator, also known as an embezzler, is a person who steals money or other monetary benefits that were entrusted to them in their position of authority. This can include cash, vouchers, or any other form of monetary benefit that the peculator has access to but does not legally own.
Unlike theft, where the person does not have the legal right to possess the private funds or public property, the peculator has the legal right to access the money or benefits they steal. However, they use their position of trust to take advantage of the situation and steal the money for their own personal gain.
For example, a bank teller who takes money from a customer's account without their permission is a peculator. Another example is a company accountant who manipulates the financial records to steal money from the company.
According to the 18 U.S. Code § 641, a peculator can face fines or imprisonment for up to 10 years.