Pelf is a term used to describe ill-gotten funds, which are money or other assets that have been obtained illegally or unethically. It is often used to refer to money that has been acquired through bribery, extortion, fraud, or embezzlement. Ill-gotten funds can also be obtained through tax evasion, insider trading, and other forms of financial crime. These funds are often used to finance criminal activities, such as drug trafficking, terrorism, and human trafficking.