The most common and most likely answer to this crossword clue is the 6 letter word BAGMAN
I've seen this crossword clue in The Guardian
B
A
G
M
A
N
Buddy explains!
The straight part
We know that "He holds the money" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case he holds the money = bagman.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BAGMAN mean?
BAGMAN noun- A person who collects, transports, or distributes illicit money, especially for the purpose of bribery, extortion, or the making of other improper payments.
- An assistant to a police detective, most commonly in the British police force.
- A bookmaker.
- A travelling salesman.
- A caddy.
- An officer assigned to travel with the president and carry the "nuclear football".