What is Syndicate?

Legal Definition
A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, to pursue or promote a shared interest. In most cases formed groups aim to scale up their profits. Although there are many legal syndicates formed around the world, the usage of the term "the syndicate" in colloquial English often refers to one involved in illegal activities.

The term is also associated with anarchist theory, specifically anarcho-syndicalism, in which it forms an alternative to both the nation state and capitalist corporations.
-- Wikipedia
Legal Definition
A university committee. A combination of persons or firms united for the purpose of enterprises too large for individuals to undertake; or a group of financiers who buy up the shares of a company in order to sell them at a profit by creating a scarcity. Mozley & Whitley.
-- Black's Law Dictionary
Legal Definition
An association of one or more individuals formed for the purpose of conducting and carrying out some particular business transaction, ordinarily of a financial character, in which the members are mutually interested. See 84 Md. 456, 40 L. R. A. 216, 36 Atl. 597.
-- Ballentine's Law Dictionary
Legal Definition