Regulator deploys interim manager to run Russia linked charity

The Charity Commission has appointed an interim manager to run Genesis Philanthropy Group, after three of its trustees became subject to financial sanctions by the government relating to Russia’s invasion of Ukraine.

A statutory inquiry was opened into the Jewish arts and heritage charity after oligarchs Petr Aven, Mikhail Fridman and German Khan were named as ‘designated persons’ by the government in relation to Russia.

Emma Moody of Womble Bond Dickinson was appointed last month, the Commission has revealed, as interim manager.

She will manage funds held by the charity and carry out other organisational tasks while it is being investigated.

The inquiry is looking at whether it is viable given the sanctions imposed on three of its trustees.

Under the rules relating to Russia sanctions, Aven, Fridman and Khan cannot be trustees of a charity and the register has been amended to remove them from its board.

The regulator has highlighted that Moody has been appointed “to the exclusion of its trustees”.

The Commission’s inquiry into the charity remains ongoing. It is the Commission’s intention to publish an inquiry report upon its conclusion,” it added.

The charity was registered in 2018 and its latest accounts for the year ending June 2020 show it had a total income of £899,400, almost entirely through donations and legacies. Meanwhile, its expenditure was £877,530.

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