Char­ity probed over losses

The Jewish Chronicle - - NEWS - BY JONATHAN KAL­MUS

THE CHAR­ITY Com­mis­sion is in­ves­ti­gat­ing a Jewish char­ity over the loss of in­vest­ment funds.

The Park Char­i­ta­ble Trust in Manch­ester was set up to ad­vance Jewish ed­u­ca­tion and pro­vide sup­port for people with cancer and heart con­di­tions.

The com­mis­sion has opened a statu­tory in­quiry, re­served for the most se­ri­ous cases, into “con­cerns about the loss of in­vest­ment cap­i­tal by the char­ity and po­ten­tial unau­tho­rised trustee ben­e­fits”.

The char­ity’s ac­counts show it bor­rowed £30 mil­lion, mainly to in­vest in property, and suf­fered a £1 mil­lion loss on in­vest­ment as­sets in 2013.

David Ham­mel­burger, one of the trustees, said: “We are en­tirely sat­is­fied that all as­pects of the Park Char­i­ta­ble Trust’s ac­tiv­i­ties are prop­erly con­ducted.”

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