http://dictionary.reference.com/search?q=defalcation
The Word of the Moment is one you have to enunciate very, very carefully…
Defalcation, noun Law.
1. misappropriation of money or funds held by an official, trustee, or other fiduciary.
2. the sum misappropriated.
[Origin: 1425-75; late ME: deduction from wages]