Further action taken over Russian oligarch linked charities

The Charity Commission has appointed interim managers to run two grant making trusts linked to Russian oligarch Dr Viatcheslav Kantor.

The further action follows Kantor being subject to sanctions in April following Russia’s invasion of Ukraine and the bank accounts of the charities, Kantor Charitable Foundation and the Kantor Foundation were frozen.

The charities’ trustee is corporate entity the Kantor Trustees, which Kantor is a director.

Under further measures the regulator has announced that Tom Murdoch and Tony Pidgeon of Stone King LLP have been appointed as interim managers of both charities.

They will manage the charities’ assets and also assess their future viability.

In addition, they will be allowed to act as receiver and manager of the charities’ assets.

We have appointed an Interim Manager to Kantor Foundation and Kantor Charitable Foundation.

Find out more: https://t.co/l6rGpMdia3 pic.twitter.com/4DCNufNXAV
— Charity Commission (@ChtyCommission) June 10, 2022

“As part of its inquiries, the Commission is considering whether the charities are viable and can continue to operate, following sanctions imposed on Dr Kantor. The inquiries are also examining the conduct of the trustees and whether they have discharged their legal duties and responsibilities in their management and administration of the charities,” said the regulator.

It added: “The Commission’s inquiry into the charities remain ongoing. It is the Commission’s intention to publish an inquiry report upon its conclusion.”

Last month the Charity Commission also appointed an interim manager to run another Russian oligarch linked charity Genesis Philanthropy Group, after three of its trustees were subject to financial sanctions following Russia’s invasion of Ukraine.