A mystery of ‘missing’ funds from a charity is not set for a happy ending, the Citizen can reveal.
For the past two years people in Wolverton have been expecting a £300,000 windfall from the sale of the town’s Creed Street Theatre .
But this week the charity’s chief Denise Davis-Boreham admitted much of the cash had gone on legal bills.
Denise was director of Creed Street Theatre and Arts Centre Ltd and also chief executive of Make a Difference (MaD), the community interest company that ran the former Buszy youth venue.
She and fellow directors caused controversy when they sold the historic Creed Street premises for £325,000 to a church in 2014.
The building was part of a trust and under its constitution there was a ruling that all proceeds should be transferred to other charities or groups with the intention of helping the community.
“We’ve had nothing,” said one Wolverton resident. “Despite two years of asking questions, we still have no idea where the money from this sale of this building has gone.”
Meanwhile, with MaD due to dissolve in two weeks time, critics fear they can never hold the directors to account.
But the Citizen contacted Ms Davis-Boreham, who is in Cambodia.
She told us: “The legal costs of selling Creed Street and an employment tribunal subsequently ate into any profit made from the sale.”
The Charity Commission would not say what happened to the funds but was still “satisfied” they were disposed of correctly.