Embezzlement is defined under which penal code?

Embezzlement is defined under Penal Code 503. This statute specifically addresses the wrongful taking of property that has been entrusted to an individual. In the context of embezzlement, the essential element is that the property was initially obtained legally, but the individual later converts it to their own use without the rightful owner’s consent. This distinguishes embezzlement from theft, where the property is taken without permission from the outset. Understanding this distinction is critical for law enforcement when investigating cases of financial misconduct and determining the appropriate charges based on the circumstances of each case.