Beneficiaries of sleaze initially profited, accumulating large sums (4)

I believe the answer is:

pals

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'beneficiaries of sleaze' is the definition.
The definition and answer can be both people as well as being plural nouns.
Maybe they are linked in a way I don't understand?

'initially profited accumulating large sums' is the wordplay.
'initially' suggests taking the first letters.
The first letters of 'profited accumulating large sums' is 'PALS'.

Can you help me to learn more?

(Another definition for pals that I've seen is " Friends".)

I've seen this clue in The Independent.

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