Charity Institute of Ireland: No new fund to replace the sanger Institute


Charity Institute Ireland is going into receivership, and its assets are being put to auction, it was reported on Sunday.

The Irish Charity Institute (ICA) was set up by the late Brian Kelly in 1987 to provide a safe haven for charities operating in Ireland and overseas.

In December last year, it had more than $1.2 billion in assets under management.

The institute was set-up to protect the charities’ assets and ensure they were protected against fraud and loss.

The ICI was set to pay back more than €1.4 billion from an investment fund it had established in 1998, but it has failed to do so.

The organisation is now the subject of a Department of Justice (DoJ) probe into whether it has breached the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

This comes after the DoJ announced it was investigating the institution’s handling of donations to the Irish and overseas charities in the run-up the 2011 census.

According to the DoJS, it is looking into whether the charity’s actions in relation to its donations were “substantially or materially misleading”.

The DoJ is also examining whether the institute used an inadequate and misleading way of reporting that it did not disclose its source of income.

The DoJS has also been informed of allegations that a charity had misappropriated donations from the institute.

It is understood that the DoJs inquiry is expected to conclude by December next year.

The Independent Commission Against Corruption (ICAC) has also launched an investigation into the DoJA, which is investigating whether the DoJa has breached EU anti-corruption laws.ICAC said it would be interested in hearing from anyone with knowledge of whether the ICI “had a financial interest” in the organisation.

It also said it was interested in “all information that would help us understand whether or not the Doja is in breach of the law”.

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