Overview

• The Office of the Scottish Charity Regulator (OSCR) found that the King’s Foundation was exposed to significant risks under the leadership of former CEO Michael Fawcett.
• The inquiry criticized the charity’s handling of valuable artwork loans, including lapses in insurance and misrepresentation of ownership, which created financial and reputational risks.
• Fawcett resigned in 2021 after allegations that he facilitated honors and citizenship for a Saudi donor in exchange for substantial contributions, though police took no further action on the matter.
• The investigation highlighted inadequate governance, decision-making, and record-keeping by the charity’s leadership during Fawcett's tenure but found no evidence of misconduct by trustees or Fawcett himself.
• The King’s Foundation has since implemented new governance practices, with regulators expressing satisfaction over recent improvements.