You searched for: “defalcate
defalcate (di FAHL kayt"; DEF uhl kayt")
In this situation, cate is talking about someone who misuses funds, embezzles, or takes money from others illegally.
This entry is located in the following unit: cate family of verbs (page 2)
To illegally take money that belongs to an organization or an individual by the person who is supposed to be trusted to take care of the funds. (1)