IPA: /ɪmˈbɛzləmənt/
KK: /ɪmˈbɛzlmənt/
The act of secretly taking money or property that has been entrusted to someone, usually in a position of authority, for personal use.
The accountant was charged with embezzlement after stealing funds from the company.
Embezzlement is formed from "embezzle" (from Middle French *embezzler*, meaning to appropriate fraudulently) and the suffix "-ment" (meaning the action or process of). The word refers to the act or process of fraudulently appropriating funds or property entrusted to one's care.
Think of someone 'fraudulently appropriating' ('embezzle') something that was entrusted to them, and the '-ment' indicates the action of doing so.