lapping

lapping. An embezzlement technique by which an employee takes funds from one customer’s accounts receivable and covers it by using a second customer’s payment to pay the first account, then a third customer’s payment to pay the second account, and so on. [Cases: Embezzlement 12. C.J.S. Embezzlement § 26.]

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词条贡献者

译者Jeffrey，毕业于国内一流的高级翻译学院，擅长翻译各种与首次公开发行/其他股权或债务发行相关的法律文件。