Slush Fund


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Slush Fund

An account in which a business, government, or individual in either of those hides money for later use. Businesses sometimes hide profits for a given quarter in a slush fund to make later profits look more robust, or even to hide later losses. In government, politicians sometimes use slush funds to hide illegal contributions or bribes to finance re-election campaigns or an extravagant lifestyle. It is important to note that not all monies set aside for entertainment or other future use constitute a slush fund; the term implies that the money is hidden or used for illegal or unethical purposes.
References in periodicals archive ?
This means that Deutch, who had the highest security clearance at the Pentagon, either knew of the slush fund or chose to remain ignorant.
Der Spiegel magazine had reported an alleged slush fund of 6.
Last month a television programme alleged that BAE had a pounds 60 million slush fund designed to facilitate defence contracts.
MoD police seized 386 boxes of evidence of the slush fund from a warehouse in Hertfordshire last week.
But it was the slush fund established to help stabilize the dollar in world trade, then supplemented by enemy assets during World War II, that started the United States off on the first covert operations of the Cold War.
More than six out of 10 South Koreans think former President Lee Myung-bak should be detained during the investigation into a slush fund scandal involving him and his family members, according to a poll released Thursday.
FIVE top civil servants were grilled for 12 hours on the Garda Templemore slush fund yesterday - but no one could say who was in charge of the accounts.
German football was thrown into turmoil on Friday when magazine Der Spiegel said the country's football officials had used a slush fund to win votes and land the 2006 World Cup.
THE EU wants to set up a slush fund, so that in future when the banks get into trouble instead of the taxpayer bailing them out it will be the slush fund.
The internal audit was carried out after reports in France alleged the French secret services had suspected EADS of keeping a slush fund to pay bribes for contracts.
The mayor seems to think that taxing everybody more to fund a billion- dollar slush fund -- Measure H -- will do better than the free market, which has provided Americans with the best housing in the world.
And it's not just the fact that Kofi and the East River Mafia sold the oil-for-food program as a humanitarian effort to provide food and medicine to orphans and starving children--and then knowingly allowed it to be used instead as a huge slush fund for Saddam and the politicians, UN officials, and corporate elitists who fed at his trough.