Definition of Blind trust:
Type of trust in which the trustor (who is usually also the beneficiary of this trust) is prevented from knowing how his or her money is invested by the trustee. Blind trusts are created to avoid any potential conflict of interest between the duties of a public officeholder and his or her choice of investment portfolio. The trust funds are placed at the full discretion of a trustee (such as a trust company) independent of the trustor in name and reality.
A financial arrangement in which a person in public office gives the administration of private business interests to an independent trust in order to prevent conflict of interest. Under the trust, the owner does not know how the assets are managed.
How to use Blind trust in a sentence?
- You could give as much as you wanted to as many politicians as you liked, but the money would go through a blind trust administered by the government.
Meaning of Blind trust & Blind trust Definition