Commission investigates Jewish charity over investment tactics and trustee benefits

01 Jul 2014 News

The Charity Commission has opened an inquiry into the Park Charitable Trust, a Jewish charity, over the loss of investment capital by the charity and unauthorised trustee benefits.

The Charity Commission has opened an inquiry into the Park Charitable Trust, a Jewish charity, over the loss of investment capital by the charity and unauthorised trustee benefits.

The trust, which is based in Manchester, was shown in its most recent accounts as having a total income of £2.6m.

It had investment assets of £30.6m and other assets of £1.2m, but debts of £30.7m, mostly bank loans and overdrafts.

"The inquiry will examine the charity's approach to investments and the associated decision making of the trustees," the Charity Commission said. "It will also examine the governance of the charity by the trustees with specific regard to conflicts of interest."

Civil Society News attempted to contact the trustees for comment, but had received no response at the time of publication.

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