Trustees removed after £400k of misconduct found

Three trustees have been removed and a charity shut down after the Charity Commission found serious evidence of financial misconduct worth over £400,000

The trio of trustees, Cyril Smith and his property developer son Matthew Smith and accountant daughter-in-law Mariya Smith, were removed as trustees after an investigation by the Charity Commission found that the family had used around £416,573 of charitable funds for personal benefit.

The charity, Manor Building Preservation Trust, was established in 1999 by Cyril Smith and was registered as a charity in 2004 to preserve listed buildings ‘for the benefit of the nation, the historical, architectural, and constructional heritage that may exist in buildings of particular beauty or historical interest’.

The investigation was launched in 2016 after legal advisors for the family contacted the Charity Commission to raise concerns about unauthorised trustee remuneration with allegations against the trustees of using charitable funds for ‘significant private gain.’

I

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe