The former chair of two nonprofit boards has received the equivalence of a "get out of jail free card".
The board chair in question had the legal case winnings of two charities he chairs deposited directly into his own personal account. His penalty: he was removed as board chair and can't be a trustee of any other board (that's how it can work in this British system) and I imagine it must be enforceable but I'm not sure how unless the Charity Commission (the regulating agency) does a background check on every trustee. Imagine how that might work in the US.
Anyway, the same Commission has ruled that it is not in the public's interest to pursue the stolen money. Its report states that "the costs would be high and the prospects of successfully enforcing judgement against Dr Seray-Wurie were low. The money had been spent." In addition, some of the money was actually spent for the charity, leaving how much was stolen in question.
No matter what, if this was the way these cases were generally handled, I'd think it would actually encourage a lot more no-consequence embezzlement.
For the story, see the article at ThirdSector UK.