fictitious payee

Definition of "fictitious payee"
  1. A fictitious payee is named in a financial agreement but either does not truly exist or was not meant to be granted any of the agreement's benefits
How to use "fictitious payee" in a sentence
  1. In a case of potential fraud, a bank alerted authorities to a check bearing the signature of a fictitious payee profile.
  2. An attorney noticed that her client's former spouse had allocated alimony payments to a fictitious payee.
  3. The auditors discovered that the company's financial statements listed multiple invoices paid to a fictitious payee.

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