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 ?
According to Defense Ministry and SDF officials, the ministry plans to announce the results of its probes into the alleged slush funds after the enactment into law of a government-proposed bill to enable Japan to resume refueling multinational forces engaged in antiterrorism operations for Afghanistan, expected in mid-January.
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.
Sources said, once India signs the TIEA with the countries concerned, the CBDT will be in a position to push them to reveal details of bank accounts where slush funds have been parked.
The ministry's in-house investigations, however, have yet to specify the total amount of the slush funds, the sources said.
This particular slush fund is currently the target of a reform-minded Board of Water and Power Commissioners that wants some accountability in the utility.
Prosecutors believe Lee Myung-bak managed the slush fund using the affiliate, whose controlling stake used to be held by a woman surnamed Kwon, the sister-in-law to the former first lady.
Slush funds kept at Nishimatsu for 10 yrs, ex-chairman may have known
OSAKA - The Osaka prefectural government announced the punishments Tuesday of 163 officials in connection with slush funds, dismissing three in disgrace for embezzling public money and withholding Gov.
An interesting local angle is how the Los Angeles media, in a gross display of unprofessional behavior, pushed for USC and UCLA to leave the Pacific Coast Conference because players were deemed ineligible for the 1956-57 seasons after receiving money from slush funds.
The prosecution raided Booyoung Group over alleged tax evasion, creating billions of won (millions of dollars) in slush funds and giving undue business favors to its affiliates.
The high court acknowledged that prosecutors did divert some investigative money for slush funds -- judging from Mitsui's firsthand accounts and the drastic cuts in investigative money after 1999, when allegations about diverted funds were circulating in some quarters.
Ex-Gifu official arrested for pocketing slush funds