1. the fraudulent appropriation or misappropriation of funds or property by a person in a position of trust
Usage: formal; legal/financial context
2. the amount of money or property that has been fraudulently taken
Usage: formal; legal/financial context

Examples

• The accountant was arrested for defalcation after auditors discovered missing funds.
• The company's defalcation scandal resulted in the resignation of three executives.
• The bank teller's defalcation amounted to over $500,000.
• Investors were shocked to learn about the defalcation of their retirement accounts.
• The audit revealed a significant defalcation in the nonprofit's charitable donations.
• He was convicted of defalcation and sentenced to five years in prison.