slush fund

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Money that is set aside for legal activities but that may have been collected and is used in an illegal, illegitiamte way. A sum of money used in a fraudulent way.

The ilegal funds are typically created by politicians, businesses or charities from taxes, extra-official earnings or donations. They are not declared to the governmental tax collectors and, aside from the moral implications of spending money in ways that that are illegal or immoral, the funds take away from the possibility of their original beneficiary to receive their benefits.