Police are investigating after a Bristol charity fell victim to financial fraud.
Trustees at Eastside Community Trust discovered funds were missing from Easton Community Centre after carrying out an accounts audit.
It is currently unknown exactly how much was taken from the account, and Avon and Somerset police and the bank are currently trying to calculate exactly how much is missing as a result of the fraud.
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The charity’s 2021 accounts statement reveals that the fraud took place between 2016 and 2020, but was only recently discovered “due to the nature of the fraud and the production of fake bank statements”.
The accounts statement goes on to explain that “the funds were taken by exploitation of a loophole in the charity bank account which held reserves”.
It states: “There has been no impact on operational delivery because the funds taken represented reserves.”
Eastside Community Trust CEO Stacey Yelland told members in an email: “We want to reassure all our members that we have reported it to the Charity Commission and are carrying out a review of our financial procedures and governance with some external support.”
The allegation was reported to the police in August 2021.
A spokesperson from Avon and Somerset Police said: "In August, we received an allegation of fraud relating to money being taken from a charitable trust in Bristol.
"Enquiries into the matter are ongoing. No arrests have been made at this time."
Eastside Community Trust was formed just over a year ago after Easton Community Centre, Felix Road Adventure Playground and Up Our Street joined to become one organisation.
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Manu Maunganidze, chair of trustees at Eastside Community Trust, said at this time the charity’s “hands are tied”.
He said: “We have spoken at the AGM, we have spoken with all our key partners and we have spoken with all our funders and the response from them has been positive.
“While we wait for whatever the outcome is on a legal front, we have put in a lot of time with both the auditors and the complex fraud team to ensure that something like this would be a lot harder for another entity to do again.
“The protections in place previously were just what was standard for a charity, these things happen.
“The staff we’ve got are still carrying on with their work and will continue to deliver the programmes that we’ve got going.
“The police have advised us that they are moving as quickly as they can to wrap up the case.
“Once the police have finished their work we’ll have to plan accordingly.”
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