What does self-dealing mean?
Definitions for self-dealing
self-deal·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word self-dealing.
Wikidata
Self-dealing
Self-dealing is the conduct of a trustee, an attorney, a corporate officer, or other fiduciary that consists of taking advantage of his position in a transaction and acting for his own interests rather than for the interests of the beneficiaries of the trust, corporate shareholders, or his clients. Self-dealing may involve misappropriation or usurpation of corporate assets or opportunities. Self-dealing is a form of conflict of interest. Political scientists Ken Kernaghan and John Langford, in their book “The Responsible Public Servant”, define self-dealing as “a situation where one takes an action in an official capacity which involves dealing with oneself in a private capacity and which confers a benefit on oneself." Michael McDonald, Ph.D, Chair of Applied Ethics at The University of British Columbia provides examples based from this book: “You work for government and use your official position to secure a contract for a private consulting company you own” or “using your government position to get a summer job for your daughter”. Where a fiduciary has engaged in self-dealing, this constitutes a breach of the fiduciary relationship. The principal of that fiduciary may sue and both recover the principal's lost profits and disgorge the principal's wrongful profits.
Numerology
Chaldean Numerology
The numerical value of self-dealing in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of self-dealing in Pythagorean Numerology is: 4
Examples of self-dealing in a Sentence
The public does not view this as business as usual, this jury is saying that self-dealing and back-scratching is not an acceptable way for a public servant to behave.
He's making money off the campaign, presumably, as profit for these companies that are servicing the campaign, whether it's a vineyard, you know, selling wine to the campaign, or whether it's hotels, or selling space at Mar-a-Lago, or the airline, now he may promote that as part of his business acumen: ‘Look, I'm a candidate plus I'm making money.’ But that can come back to haunt, as well; I mean, you know, people may say, ‘Wait a minute, it looks like too much self-dealing here.’.
An indictment of this magnitude is a condemnation of a system infected with promises of pay-to-play, and the era of corruption and self-dealing among Illinois politicians must end, the conduct alleged in this indictment is deplorable and a stark violation of the public's trust. Michael Madigan must be held accountable to the fullest extent of the law.
We've depended on a combination of legal requirements and norms to prevent conflicts of interest and self-dealing, once norms get broken, it's hard to put them back together again.
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"self-dealing." Definitions.net. STANDS4 LLC, 2024. Web. 19 Mar. 2024. <https://www.definitions.net/definition/self-dealing>.
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