1. (Archaic) A lopping off.2. Misappropriation of money in one's keeping.3. A sum of money so misappropriated.4. A failure to meet a promise or an expectation.
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"The treasurer faced charges after admitting to defalcation of public funds."
"What began as a minor defalcation eventually grew into a significant financial loss."
"Voters saw the unfulfilled pledge as a defalcation of the campaign's core promise."
Latin, 15th century
If you've seen news reports of people being investigated for embezzlement, there's another word for this kind of financial fraud: defalcation. It means "misappropriation of money in one's keeping," or it can refer to the ...
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