Black’s Law Dictionary Definitions:

defalcation

“defalcation (dee-fal-kay-shan), n. 1. EMBEZZLE-MENT. 2. Loosely, the failure to meet an obligation; a nonfraudulent default. 3. Ar-chaic. A deduction; a setoff. – defalcate (di-fal-kayt or dee-), vb. – defalcator,”

DEpeculation

“depeculation (dee-pek-ya-lay-shan). Hist. Embezzlement from the public treasury. Cf. PECULATION. — depeculate, vb.”

Embezzlement

“embezzlement, n. The fraudulent taking of personal property with which one has been entrusted, esp. as a fiduciary. • The criminal intent for embezzlement — unlike larceny and false pretenses – arises after taking possession (not before or during the taking). — Also termed defalcation; peculation. See LARCENY; FALSE PRETENSES. — embez-zle, ub. — embezzler, n.”

FALSE PRETENSES

“false pretenses. The crime of knowingly obtaining title to another’s personal property by misrepresenting a fact with the intent to defraud. • Although unknown to English common law, false pretenses became a misdemeanor under a statute old enough to make it common law in the United States.

Modern American statutes make it either a felony or a misdemeanor, depending on the property’s value. — Also termed obtaining property by false pretenses; fraudulent pretenses. Cf. larceny by trick under LARCENY; EMBEZZLEMENT.”

LARCENY

“larceny (lahr-sa-nee), n. The unlawful taking and carrying away of someone else’s personal property with the intent to deprive the possessor of it permanently. • Com-mon-law larceny has been broadened by some statutes to include embezzlement and false pretenses, all three of which are often subsumed under the statutory crime of

“theft.” Cf. ROBBERY; THEFT.”