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English definition of “kite”

kite

verb [I or T]     /kaɪt/ US informal BANKING, LAW
to illegally write a cheque on one account, which does not contain enough money to pay it, and deposit it another, taking the money from the second before it is discovered that the cheque is bad: He was indicted for kiting checks at United Bank. The broker was jailed for a kiting scheme.
to use stolen cheques: Anybody who knows that people are kiting cheques invoices should resign. → Compare check kiting
(Definition of kite verb from the Cambridge Business English Dictionary © Cambridge University Press)
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