Generally speaking, in Virginia, embezzlement consists of fraudulent conversion of the tangible or intangible personal property of another with intent to deprive the owner thereof by a person in lawful possession of that property. It is deemed larceny by statute. The existence of a formal fiduciary relationship is not necessary. The Commonwealth need only show that the defendant was entrusted with the property of another. To establish the requisite intent, it is not necessary to show that the defendant wrongfully appropriated the entrusted property to his own benefit;diversion of the property to benefit another is sufficient.
As usual, every law has exceptions. Consult with a Charlottesville attorney to get the full scoop.