What does it mean to wield a blank check?

An enigmatic patron caught the wind off our rum business; he wields a blank check with our name on it.

Does this imply that the business itself is shady, and the person wielding the check is intrested in some sort of business dealing.

A blank cheque is literally a cheque that has been signed with no amount mentioned, implying that the person receiving the cheque can fill in any amount his heart desires.

Metaphorically, the phrase implies a state of absolute freedom to do as one pleases or an open offer that is hard to refuse,

Without adequate context, I can only imagine that the "patron" is interested in buying a stake in the operation at any cost