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Verb: misappropriate  ,mi-su'prow-pree,eyt
  1. Appropriate (as property entrusted to one's care) fraudulently to one's own use
    "The treasurer misappropriated funds from the charity";
    - embezzle, defalcate, peculate, malversate [archaic]

Derived forms: misappropriated, misappropriates, misappropriating

Type of: rip [N. Amer, informal], rip off [informal], steal