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A slush fund can also be a reserve account used to reduce fluctuations in an organization's earnings by withholding them when they are high and supplementing them when they are low. This type of slush fund is not inherently corrupt, but is nonetheless a form of earnings management that tends to mislead stakeholders about the organization's ...
The Congressional Post Office scandal (1991–1995) was a conspiracy to embezzle House Post Office money through stamps and postal vouchers to congressmen. [421] Dan Rostenkowski (D-IL) was convicted and sentenced to 18 months in prison in 1995. [422] Joe Kolter (D-PA) was convicted of one count of conspiracy [423] and sentenced to 6 months in ...
A dark cloud loomed over the Fighting Illini's men's basketball team as the 1966-67 season commenced. An investigation revolving around a "slush-fund" program which provided funds to athletes within the basketball and football programs had come to the conclusion that many integral parts of the administration, coaching staff, as well as athletes, were culpable and should be punished.
A $20 billion Biden administration green-energy slush fund was collecting interest at a private bank and is being distributed without proper oversight, Environmental Protection Agency Administrator...
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For decades, legislators deposited roughly $10 million a year in what has long been called a slush fund. Republican budget writers increased the fund to $62 million in 2021 and to $112 million in ...
The House banking scandal ultimately involved more than 450 representatives, most of whom did not break any laws. However, 22 members of Congress were singled out by the House Ethics Committee for leaving their checking accounts overdrawn for at least eight months out of a sample of 39 months: [2]
Besides its re-election activities, CRP employed money laundering and slush funds, and was involved in the Watergate scandal. [2] The CRP used $500,000 in funds raised to re-elect President Nixon to pay legal expenses for the five Watergate burglars. This act helped turn the burglary into an explosive political scandal.