Embezzle

v. illegally appropriate money entrusted to one's care, defraud

Embezzlement is the fraudulent appropriation by a person to his or her own use of property or money entrusted to that person's care but owned by someone else. For instance, a clerk or cashier can embezzle money from his or her employer, a civil servant can embezzle funds from the treasury, or a pastor can embezzle funds from a church.
See more at Wikipedia.org...

Verb
1. appropriate (as property entrusted to one's care) fraudulently to one's own use; "The accountant embezzled thousands of dollars while working for the wealthy family"
(synonym) defalcate, peculate, misappropriate, malversate
(hypernym) steal
(hyponym) fiddle
(derivation) embezzlement, peculation, defalcation, misapplication, misappropriation

(v. t.)
To misappropriate; to waste; to dissipate in extravagance.
  

(v. t.)
To appropriate fraudulently to one's own use, as property intrusted to one's care; to apply to one's private uses by a breach of trust; as, to embezzle money held in trust.
  

fraudulently appropriate an asset for one's own use.