The Charity Commission has appointed interim managers to two charities that are being investigated due to their links to a sanctioned Russian oligarch.
The Kantor Foundation and Kantor Charitable Foundation are linked to Dr Viatcheslav Moshe Kantor, who was sanctioned in April under the UK’s Russia Sanctions regime. He is a businessman that heads fertiliser company the Acron Group.
The Commission opened statutory inquiries into the two grantmaking trusts after Kantor was sanctioned. The regulator’s position is that individuals subject to UK financial sanctions cannot conduct their duties as a trustee.
The Russian oligarch mainly funded both charities. Between them, they distributed £2m in grants in 2020.
Tom Murdoch and Tony Pidgeon of the law firm Stone King LLP were appointed by the Commission as interim managers of both charities on 31 May.
They will manage the assets of the charities and assess the future viability of the organisations. Though the regulator froze the charities’ bank accounts last month, these interim managers are able to act as receivers and managers of the charities’ assets.
The inquiries into the charities are ongoing and will investigate their viability as well as the conduct of trustees.
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