self-dealing - Legal Definition
Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey.
Participating in a transaction for one’s own personal benefit rather than for the one owed a fiduciary duty; for example, a trustee using property held in trust for her own benefit. Many states have laws prohibiting such action, and there are federal statutes that do so under certain circumstances.
Used by arrangement with John Wiley & Sons, Inc.