LONDON: The Charity Commission has launched an inquiry into My Space Housing Solutions to investigate potential conflicts of interest and possible mismanagement of funds.
My Space Housing Solutions provides supported accommodation to vulnerable individuals who have been unable to secure tenancies.
The charity had been the subject of a regulatory compliance case which opened in July 2022 and a books and records inspection was conducted in late August 2022.
The regulator has identified that from April 2015, £1,098,538 of the charity’s funds has been paid to 9 individuals who were serving as trustees at the time the payments were made. These payments raise concerns about conflicts of interest and an inquiry has been launched to assess potential misconduct and mismanagement.
The inquiry will examine the administration, governance and management of the charity and in particular:
- Conflicts of interest and connected party transactions
- Whether the charity has suffered a financial loss as a result of any misconduct or mismanagement of funds.