Meaning of the word bagman in English

What does bagman mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

bagman

US /ˈbæɡ.mæn/
UK /ˈbæɡ.mæn/

Noun

a person who collects or distributes illicit payments, especially for bribery or extortion

Example:
The corrupt politician used a bagman to collect bribes from contractors.
The police arrested the bagman with a briefcase full of cash.