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Within the context of occupational malfeasance, what precisely characterizes the term defalcation? Intentional misappropriation of entrusted funds for personal use The negligent mismanagement of investment

Within the context of occupational malfeasance, what precisely characterizes the term "defalcation"? Intentional misappropriation of entrusted funds for personal use The negligent mismanagement of investment portfolios The clandestine embezzlement of funds through intricate offshore transactions Systematic manipulation of financial statements to conceal lossesWithin the context of occupational malfeasance, what precisely characterizes the term "defalcation"? Intentional misappropriation of entrusted funds for personal use The negligent mismanagement of investment portfolios The clandestine embezzlement of funds through intricate offshore transactions Systematic manipulation of financial statements to conceal losses

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