What is the difference between larceny and embezzlement?

The major difference between larceny and embezzlement is the way in which the property changes hands. With larceny, the property is carried away; it was never in the possession of the perpetrator, the perpetrator never owned it nor had any legal right to possess it.

With embezzlement, however, the perpetrator has lawfully possessed the property, but then has converted it into his/her own property. A good example is when a worker at a charitable organization solicits and collects donations for the charity—only to take the funds from a trust account and place them in their own personal bank account.