malversation

/ˌmælvərˈseɪʃən/
noun
  1. Corrupt or dishonest behavior, especially by someone in a position of trust, such as embezzlement or misuse of funds.
    • The accountant's malversation was discovered during a routine audit.
    • Malversation by public officials undermines trust in the government.
    • The mayor was investigated for malversation after money went missing from the city budget.