EDUCATION FELLOWSHIP TRUST

An investigation into the finances of the Education Fellowship Trust, which runs a chain of Academies mostly in Northamptonshire and Wiltshire, questions governors' expenses of £45,000, a £20.000 trip to New York, £600 for customised umbrellas, unadvertised jobs for family members, £915 on printing Christmas cards, expenses of £45,000 by two trustees, very high levels of private car usage, travel and subsistence and accommodation costs, significant breaches of the Companies Act 2006, Charity Commission regulations and the Academies Financial Handbook, and payment of its chairman £90,000 per year, including transactions with companies in which the chairman has a controlling interest. 
http://www.bbc.co.uk/news/education-27238265

The investigation into this use of public funds and, and the financial management and governance, was carried out by the Education Funding Agency. which delivers public funding to academies.

The first academies became part of the Education Fellowship Trust in October 2012. From September 2013 the trust had restructured with the chief executive stepping down.

Academies are independent state schools which operate outside of local authority control.