Using up grant money before a deadline I am aware that grants often only provide the earned money over a certain period of time. And if the money is not used up by the end of that period you lose access to it. Are there ways to effectively spend this money so it does not go completely to waste?



Note: A previous version of this question asked about setting up shell companies, which is why some answers address them. That part of the question was removed.
Things to do (to the extent allowed by the terms of the grant)


Buy work laptops or other equipment.
Visit someone, send a student to visit someone, or invite a guest.
Depending on how quick the "quickly" is, go to a conference or organize a small workshop, or a summer/winter school.
Hold a networking event with your research group, or together with another group of possible collaborators, possible or actual.
If you have suitable publications, buy golden open access for one of them.


Things not to do

Try to get the money to yourself (except NSF grants in USA and summer salary). Try to keep it for later. Try to use it on something out of scope of the grant, like personal benefits without scientific value.