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 testimonies given by people familiar with the issue, the ministry has built the slush funds from disbursements from the reward outlay budget for ''information'' given by former defense officials who posed as ''informants.'' Fake receipts were issued in the name of expense-account payments, they said.
The presidential office earlier Tuesday denied an allegation that it knew of Hong's involvement in the illegal slush fund donation scandal before he assumed his post, Yonhap separately reported.
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.
"There were no slush funds, no votes were bought," Niersbach, who was a vice president of the organizing committee, told reporters at the official opening of the DFB's new football museum in Dortmund.
Before the election the Coalition promised to establish a judicial inquiry into the Australian Workers Union slush fund scandal.
Under pressure from the Opposition to recover thousands of crores of slush funds stashed away in India and in tax havens abroad, and rising public anger on the issue, the union finance ministry is trying to stitch together agreements with 22 tax havens to seek information on unaccounted wealth.
The ministry's in-house investigations, however, have yet to specify the total amount of the slush funds, the sources said.
The SFO's probe centred on accusations that the company had used slush funds to sweeten the deal, something BAE strongly denied.
Half of American women earn more than their partners and secret slush funds are alive and well in Japan and Saudi Arabia.
For the immediate future, Kaza's agenda is filled with open-government issues such as giving citizens the right to vote on lawmakers' pay raises; getting "none of the above" on the ballot; abolishing political slush funds; putting the legislative process on-line; and having the legislature operate part-time.
Lee is also accused of using DAS, an auto parts company, to collect and manage slush funds.
This will be the second time Bala Tinka was being detained by the anti-graft agency at the Gombe zonal office as EFCC steps up investigations into the slush funds allegedly deployed to procure victory for the then ruling party during the 2015 general elections.