Blind trusts

blind trust

noun
a trust in which a trustee controls the financial investments of a public official, without the beneficiary's knowledge of how his or her affairs are administered, in order to avoid conflict of interest.

Origin:
1965–70

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World English Dictionary
blind trust
 
n
a trust fund that manages the financial affairs of a person without informing him or her of any investments made, usually so that the beneficiary cannot be accused of using public office for private gain

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