Humanitarian architecture charity Article 25 has launched an urgent rescue campaign after £200,000 disappeared from the organisation’s accounts
On 29 June the charity’s managing director was informed of irregular account activity by its bank.
Article 25’s trustees went on to uncover what they said was a ‘systematic falsification of financial statements’, hiding multiple unapproved payments totalling more than £200,000.
Tower Hamlets police confirmed to the AJ that it was investigating an allegation of theft by an employee at the charity and that the investigation is ongoing.
The charity fears it could enter liquidation if it cannot find funds to cover the missing cash and has launched an urgent appeal in what its chairman, Sunand Prasad, called ‘a fight for survival’.
The charity has appointed an insolvency expert and launched a rescue campaign with the aim of raising £130,000 by the end of today (9 July).
So far £110,000 has been pledged to save the charit,y which has carried out work in Nepal, Haiti, Ghana, and Burkina Faso.
Prasad, said: ‘Article 25 is a charity that belongs to us all and we now need to fight for its survival.
‘Countless practices and individual in the UK have helped in some way over the past 10 years to make Article 25 the leading organisation of its type anywhere in the world. What has happened is a particularly bitter blow, as Article 25 is currently poised to work on some of the most important projects in its history.
‘The current circumstance will be of concern to every person who has helped us raise money, to our staff and volunteers who give their all in their shared endeavour to improve lives and to the thousands of people whose potential access to basic accommodation for health or education is now in jeopardy.’
The charity commission has been notified.
Those wishing to pledge to the charity can email Sunand Prasad or call 020 3197 9800.
Article 25 launches appeal after £200k goes missing from charity accounts