peculate \PEK-yuh-leyt\, verb:
1. to appropriate fraudulently
2. to steal money or goods entrusted to one; embezzle
The way the NCAA and rival fans are acting, you'd think our athletes walked into the book store with masks and guns demanding free textbooks and merchandise to sell on ebay instead of taking advantage of a loophole that allowed them to peculate materials for friends and teammates that aren't on scholarship.