皇冠体育app

皇冠体育app charity lists its activities as providing financial support to help relieve sickness and poverty.

皇冠体育app MB Foundation was previously part of the Commission鈥檚 鈥榙ouble defaulters鈥� class inquiry for failing to submit annual accounts for the financial years ending 31 March 2014 and 31 March 2015. Subsequent scrutiny of the accounts and information received from the trustees raised several concerns about the charity鈥檚 governance, in particular, the trustees鈥� handling of conflicts of interest.

皇冠体育app charity, whose trustees are all brothers, carried out several transactions with companies and individuals directly connected to the trustees or the trustees鈥� family members. This included a total of four loans to a connected company totalling over 拢1.7M.

皇冠体育app trustees have so far failed to provide the Commission with any formal documentation in relation to these loans. Furthermore, the trustees did not provide information to demonstrate they had adequately identified or managed conflicts of interest.

皇冠体育app inquiry will focus on:

• the trustees鈥� decision-making; particularly regarding loans and investments
• whether the trustees have adequately managed potential conflicts of interests
• if there has been any unauthorised or indirect private benefit
• whether the charity has suffered any financial loss as a result of any mismanagement/misconduct
• whether trustees have fulfilled their duties and responsibilities under charity law

皇冠体育app Commission may extend the scope of the inquiry if additional regulatory issues emerge. 皇冠体育app opening of an inquiry is not a finding of wrongdoing.

It is the Commission鈥檚 policy, after it has concluded an inquiry, to publish a report detailing what issues the inquiry looked at, what actions were undertaken as part of the inquiry and what the outcomes were. Reports of previous inquiries are available on GOV.UK.

ENDS

Notes to Editors:

皇冠体育app Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its purpose is to ensure charity can thrive and inspire trust so that people can improve lives and strengthen society.