The former chief executive of the King’s Foundation exposed the charity to substantial risk, an investigation by the Scottish Charity Regulator (OSCR) has concluded.

The probe was launched in September 2021 by the regulator after the charity became embroiled in a cash for honours scandal when it was known as The Prince’s Foundation.

A separate investigation by the charity found that its former chief executive Michael Fawcett coordinated with “fixers” over a nomination for an honour for a donor. This investigation also found no evidence that trustees at the time were aware of Fawcett’s actions.

The regulator’s inquiry report into the concerns around the charity has concluded that “in relation to the charity’s former CEO, the inquiry found that some of his actions resulted in the charity being exposed to substantial risk”.

It added: “It was unacceptable that he did not brief the charity trustees on some of these serious issues as soon as they arose.

“By not doing so the former charity trustees’ ability to react to the risk faced by the charity was hindered.”

Despite concerns raised the regulator said it “does not consider that there was misconduct on the part of the former CEO”.

In addition, the regulator’s probe “found the historical governance of the charity had not always been up to the standard required”.

“This finding is in relation to the historical approach to decision making and record keeping.”

It added: “However, the inquiry did not find evidence of misconduct by any of the former or current trustees who were in office at the time.”

Former royal valet Fawcett, quit in November 2021, after temporarily stepping down.

The OSCR said that the charity has acted since the cash for honours scandal emerged. In addition to carrying out its own investigation into the allegations it has carried out a review of its governance and followed up with a subsequent action plan.

“The OSCR acknowledges the steps the charity took in response to the allegations including the independent review of the allegations and the governance review,” said the regulator.

“In addition, OSCR recognises the charitable work and achievements of the charity over the period examined during” its probe.

The regulator “has asked that the charity reflect on the historical issues” set out in its report into the scandal “and consider these in the context of ongoing improvement and development”.

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