EMBEZZLEMENT UNDER THE LAWS OF THE NETHERLANDS ANTILLES
It is a criminal act
Embezzlement (in Dutch “verduistering“) is a criminal act: the fraudulent appropriation by a person to his own benefit of money (or property) entrusted to his care but being owned by another person.
Article 334 of the Netherlands Antilles Criminal Code stipulates the elements of embezzlement. More specific the following elements are of importance when judging whether or not the behavior of a suspect can be qualified as embezzlement: (i) intentional behavior, (ii) money that belongs to another party, (iii) disposing of the money by the suspect as employee, and (iv) conversion of money (”wederrechtelijk toeëigenen“).
Some examples: creating phantom employees who are paid with checks, supplying false bills to the employer and under-reporting of monies received and pocket the difference.
Karel Frielink
Curacao-based Attorney (lawyer) / Partner
Filed under: legal by Karel.Frielink
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