What is misappropriation of asset?

Answer 1

Misappropriation of assets is a type of fraud (usually committed by employees against their employers) that involves the employee's theft of the company's cash or other assets by deceitful means. For example, an employee who gets his hands on a signed company check might alter it to make it payable to cash.

Or he might claim business-expense reimbursement for lunches or dinners that were not eligible for reimbursement. Misappropriation of assets is basically stealing through fraudulent means.