Black marketeer dignitaries turned around (4)
I believe the answer is:
spiv
'black marketeer' is the definition.
(I've seen this before)
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for spiv that I've seen before include "Person living off various dubious schemes" , "Swindler" , "shady character" , "Black marketer" , "Flashy fellow who sells dodgy goods" .)