Charity regulator recovers almost £150k for public purse after discovering gold bullion바카라 사이트¯
The Charity Commission has banned trustees of The Saint George Educational Trust after a statutory inquiry found significant financial mismanagement.바카라 사이트¯
The charity, which is based in Hampshire, was registered in 1994 to carry out activities that advance the Catholic religion and education about the faith. 바카라 사이트¯Â
However, during the Commission바카라 사이트™s inquiry, the regulator discovered that the charity바카라 사이트™s bank account was being used as a conduit for money from unknown sources, and the charity was wrongly claiming Gift Aid on these funds. Some charitable assets were also being held as gold bullion by individuals unconnected to the charity.바카라 사이트¯Â
The charity바카라 사이트™s website and social media were also found to have posted content linked to the leader of a far-right political group, not in furtherance of its charitable purposes, as well as an Islamist terrorist organisation.바카라 사이트¯Â
Subsequently, the Commission removed the trustees from the charity and has appointed Interim Managers, who will settle outstanding debts and redistribute any remaining charitable funds to a charity with similar charitable purposes before winding up the organisation.바카라 사이트¯Â
The inquiry was opened in October 2022 after the regulator identified concerns that the charity was engaging in activities, including online content, that did not appear to further its religious purposes. 바카라 사이트¯Â
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The inquiry has found significant governance failings, financial mismanagement, and unacceptable political activity at the charity, including:바카라 사이트¯Â
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The charity바카라 사이트™s chair had allowed the charity바카라 사이트™s bank account to receive 바카라 사이트˜donations바카라 사이트™ from unknown sources, which were then transferred to entities unknown to the trustees.바카라 사이트¯바카라 사이트¯Â
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The trustees then successfully claimed, from HMRC, Gift Aid in the sum of £80,455.75 on those funds coming into the charity. The charity retained 20% of the Gift Aid element with the remainder being transferred to accounts unknown to the trustees.바카라 사이트¯ These claims were later disallowed by HMRC, and the Commission recovered the total sum of £146,166.14 (including interest and a penalty) from the charity.바카라 사이트¯바카라 사이트¯Â
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The inquiry discovered more than £30,000 of charity assets had been converted into gold bullion held by individuals with no formal connection to the charity. It also found items described as being of religious significance, such as rare books, belonging to the charity, said to have a value in the £10,000s, were in a storage unit that was also not in the charity바카라 사이트™s possession. 바카라 사이트¯Â
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The inquiry found that the trustees바카라 사이트™ actions demonstrated a complete failure in their duty to act in the charity바카라 사이트™s best interests. There was no evidence that they conducted any checks on the entities transferring funds to the charity바카라 사이트™s bank account, nor did they independently assess how the money was spent.바카라 사이트¯바카라 사이트¯Â
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The charity바카라 사이트™s website and social media accounts contained content linked to far-right activities and a post likely to be interpreted as support for Hezbollah, a proscribed terrorist organisation.바카라 사이트¯바카라 사이트¯Â
Regulatory action바카라 사이트¯바카라 사이트¯Â
Following the opening of its inquiry, the Commission took action to freeze over half a million pounds of the charity바카라 사이트™s funds and ensure inappropriate content was removed from the charity바카라 사이트™s website and social media.바카라 사이트¯바카라 사이트¯Â
With the assistance of바카라 사이트¯the police, gold bullion was recovered and sold, which enabled the Commission to make orders to the police and bank, which held funds on behalf of the charity, and to repay HMRC £146,166.14 for Gift Aid wrongly obtained by the charity. 바카라 사이트¯Â
In January 2025, the trustees at that time were removed from the charity as trustees. This means that they are disqualified from serving as trustees or holding any position with senior management function in relation to any charity in England and Wales.바카라 사이트¯Â
The Commission appointed Interim Managers to take control of the running of the charity, who secured the items held in storage, and are working to identify the charity바카라 사이트™s liabilities in preparation for winding up and dissolution. Any remaining funds will be distributed to other Catholic charities. 바카라 사이트¯Â
Charity Commission Chief Executive, David Holdsworth, said:바카라 사이트¯바카라 사이트¯Â
The generous British public can be reassured that deliberate abuse of charity is rare and as this case shows when it does occur, we act swiftly and robustly.바카라 사이트¯ 바카라 사이트¯Â
This was a flagrant abuse of charity and a betrayal of the public바카라 사이트™s trust. The Commission바카라 사이트™s actions during this ongoing inquiry mean that all the public money falsely claimed from HMRC has been repaid and we have ensured that the trustees can바카라 사이트™t run a charity again.바카라 사이트¯Â
Charity Commission Head of Compliance Visits and Inspections, Joshua Farbridge, said:바카라 사이트¯바카라 사이트¯Â
I have no doubt that the public will be shocked by the inquiry바카라 사이트™s findings. The charity was used to promote inappropriate and harmful views, express support for a proscribed terrorist organisation, and to make improper Gift Aid claims. While what transpired may seem more suited to fiction, this is, regrettably, all too real.바카라 사이트¯ 바카라 사이트¯Â
The Commission has acted to protect the charity바카라 사이트™s remaining assets, and the Interim Managers will work towards winding up and dissolving it.Â
The full report detailing the findings of the inquiry will be published following the completion of the Interim Managers바카라 사이트™ work in winding up and dissolving the charity.바카라 사이트¯바카라 사이트¯Â
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Notes to editors바카라 사이트¯Â
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The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society.바카라 사이트¯Â
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On 7 October 2022, the Commission opened a statutory inquiry into The Saint George Educational Trust under section 46 of the Charities Act 2011 (the 바카라 사이트˜Act바카라 사이트™).바카라 사이트¯바카라 사이트¯Â
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A statutory inquiry is a legal power enabling the Commission to formally investigate matters of regulatory concern within a charity and to use protective powers for the benefit of the charity and its beneficiaries, assets, or reputation. An inquiry investigates and establishes the facts of the case so that the Commission can determine the extent of any misconduct and/or mismanagement; the extent of the risk to the charity, its work, property, beneficiaries, employees or volunteers; and decide what action is needed to resolve the concerns.바카라 사이트¯Â
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On 25 July 2022, the charity became part of the Commission바카라 사이트™s Statutory Class Inquiry, having failed to submit financial information to the Commission for two or more years over a 5-year period. The charity ceased to be part of the Class Inquiry when the scale of concerns identified led to the opening of a separate inquiry, which remains ongoing.바카라 사이트¯Â
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On 16 January 2025, the inquiry made an Order under section 76(3)(g) of the Act to appoint Tom Murdoch and Tony Pidgeon of Stone King LLP to act as Interim Managers for the charity.
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