disguised irregular (or illegal) fund raising disguised irregular fund raising
Related Translations:
变相: 1.(内容不变,形式和原来不同) in disguised form; covert 短语和例子变相的剥削行为 a covert act of exploitation; 变相买卖外汇 buy and sell foreign exchange in disguised form2.(相位调整) phasing; 变相贪污 embezzlement in disguised