Rufus (and charity trustees) to be assessed on whether to repay £6.9m

Halix

Article on Richard Rufus in the times today, saying that he has been told by the charities commission to repay £6.9 mill.

AFKABartram

Full story here

http://www.thirdsector.co.uk/Finance/article/1230162/charity-commission-appoints-interim-manager-charity-lost-69m/

AFKABartram

potentially messy this one.

A reminder to be careful in what you write

SELR_addicks

If he went bankrupt after giving back £1.7m, how will he able able to fund the rest of the sum?

stonemuse

mmm ... doesn't sound good

SilentAddick

Halix said:

Article on Richard Rufus in the times today, saying that he has been told by the charities commission to repay £6.9 mill.

No, he's been made bankrupt after paying back £1.7m so it's just a matter of the charity commissioners seeking to determine if the other trustees were irresponsible and if so, pursue them for full payment. Probably will see the rest being bankrupted too... Rufus has already paid the penalty and thus will not be prosecuted again unless a fraud has been committed.

Hartleypete

I didn't think that charities were allowed to invest in this type of speculative instrument any longer.

Boom

I've done some work for this mob in the past.

I'll say no more...

Covered End

In my role as a Financial Adviser, I had a customer, who was a prominent member of his/her church.

The funds, which were said to be the churches', were in his/here account & he/she could invest it as they saw fit.

This individual (with the greatest respect) was extremely unintelligent.

There was no way I was getting involved.

It seems that there may be a lack of accountability in church funds.

How do we know, what money goes where ?

Mortimerician

Covered End said:

This individual (with the greatest respect) was extremely unintelligent.

I love how adding the bit in brackets implies everything else is ok.

With the greates of respect Mr Bloggs is a thick Pedo of no human worth. Popping his skull would be a kindness.