verb (used with object), verb (used without object), -lat·ed, -lat·ing.
to steal or take dishonestly (money, especially public funds, or property entrusted to one's care); embezzle.
Origin: 1740–50; v. use of peculate embezzlement (now obsolete) < Latin pecūlātus, equivalent to pecūlā(rī) to embezzle, literally, to make public property private + -tus suffix of v. action. See peculiar, -ate1