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UNITED STATES v. SAYKLAY
United States Court of Appeals, Fifth Circuit (1976) | 542 F.2d 942
TL;DR: A bank bookkeeper used her position to steal funds but was acquitted of embezzlement. The court held that because she never had lawful possession of the money, a required element of the crime was not met.
Legal Significance: This case strictly upholds the common law distinction between embezzlement and other theft crimes, reinforcing that a conviction for embezzlement requires proof that the defendant had prior lawful possession of the property converted.