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Peter McVerry Trust to be investigated amid financial worries

The Peter McVerry Trust has had inspectors appointed into it to conduct an investigation into the charity.

The Approved Housing Bodies Regulatory Authority (AHBRA), who are the State's regulator for housing bodies, appointed the statutory inspectors earlier this week.

Last month, the Department of Housing was informed of 'cash flow' issues within the Peter McVerry Trust.

At that point, the charity said it was experiencing cashflow pressures that are “more acute than would traditionally be the case”, even allowing for the summer period.

A statement from the AHBRA on Tuesday read: "It is important to note that the commencement of a statutory investigation is not in itself a finding of any wrongdoing,

“The appointed inspectors have been asked to prepare and submit to AHBRA a report on their investigation and findings. AHBRA will not be making any further comment while the investigation is ongoing.”

In the wake of the 'cash flow issues' in August, the Department of Housing had said that it was “satisfied that all appropriate steps are being taken in relation to the issues raised."

Mr McVerry is not involved in the day-to-day operations of the trust, but remains the secretary of its board.

Francis Doherty, who had been its director of housing and communications, took over as chief executive of the organisation in June of this year.