The Charity Commission has opened an inquiry and frozen the bank account of a religious poverty relief charity after it found that £850,000 of charitable funds have been transferred to a trustee’s bank account.
The regulator has opened an inquiry into the Devon Charitable Trust, following concerns about its finances. In a statement, it said that it “has concerns that donations are not being deposited into the charity’s accounts appropriately”.
The Commission has been concerned about the management and administration of the charity since August 2018. It will also examine the extent to which the charity has complied with previously issued regulatory guidance.
The regulator said that it was opening the inquiry as the charity had failed to file its accounts on time. Information on the charity register shows that the charity’s financial information is 10 months late.
Its income for the year to March 2017 was £424,000.
The Commission also said that it would be examining conflicts of interest on the trustee board.
Devon Charitable Trust is governed by six trustees and the address registered with the Commission is in Harrow. It was founded in 2004 and operates in Canada, India, United States and the United Kingdom.
The charity has been approached for comment.