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1.
The wrongful or willful taking of money or property belonging to someone else after the money or property has lawfully come into the possession or control of the person taking it. To steal money.
She got fired for trying to embezzle seven thousand dollars.
by Morgan T. May 01, 2006
 
2.
It's a super awesome way of saying to 'take have' something.
My lungs embezzle the air from the earth... as I can breath.. it. Period.
by JaguarFiend February 23, 2008