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