blind trust

noun

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

blind trust

noun

1. 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

Word History and Origins

Origin of blind trust¹

First recorded in 1965–70

Example Sentences

Paxton in 2015 put his assets into a blind trust, a tool used by politicians to avoid conflicts of interest by separating them from management of their money.

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In June, Marinakis effectively regained control and disbanded the blind trust he had set up to oversee club matters.

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"Multi-club structures hide behind the charade of a 'blind trust' while clubs such as ours, who have no connection to another club whatsoever, are prevented from playing in the same competition," Palace said.

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So Marinakis placed his Forest stake into a blind trust, and ceased to be a "person with significant control" of the company that owns the club.

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However, he ceased to be a "person with significant control" of Forest by putting his stake in the club into a blind trust.

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