blind trust

American  

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.

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blind trust British  

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

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Etymology

Origin of blind trust

First recorded in 1965–70

Example Sentences

The concept of a "blind trust" does not exist in Czech legislation, and an army of lawyers will be required to design an arrangement that works.

From BBC

“I had a blind trust in his sense of integrity,” he testified.

From The Wall Street Journal

“That would be an occasion in which a blind trust is blind in name only,” Texas trust attorney Brad Wiewel said.

From The Wall Street Journal

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

From BBC

"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.

From BBC