The wrongful appropriation or embezzlement of shared or public property, usually by a person entrusted with the guardianship of that property.(noun)
Wiktionary.org : Text is available under the Creative Commons Attribution-ShareAlike License
Use "peculation" in a sentence
"S peculation is rampant that Bush is preparing to nominate Sam Alito of the U.S."
"The nabobs, as they were called -- the company's servants and directors who survived the appalling climate and who returned to England after a few years with immense fortunes wrung by extortion and peculation from the Indian princes and the Indian trade."
"A Persian who has spent his life in peculation, or in amassing wealth by interest at 100 per cent., or even 200 at times, when his days are closing, resolves to win heaven and a good reputation by relieving the thirst of his fellow-citizens in the above way."