Probe into Shane Warne Foundation to continue despite closure

New Delhi: The probe into former cricketer Shane Warne's charity foundation will reportedly proceed despite its closure. Consumer Affairs Victoria (CAV) began monitoring the foundation last year after it failed to lodge an annual statement.

According to a report in the Herald Sun on Friday, CAV wants more information from the charity, the Shane Warne Foundation, to ensure it has been meeting the 29.5 per cent annual target.

In a statement released today, the foundation announced it is shutting down, and cited "recent, unwarranted speculation” about its distribution of funds.

But, Warne’s overseas commitments are said to have influenced the decision to close the foundation. Some close to the charity blame media coverage, and say events-based fundraising is a crowded market.

Earlier, the Australian cricketer declared it had “nothing to hide”. The legendary spinner previously rejected claims the charity passes on just 16 cents in every dollar raised to its nominated charities.

In the statement, the board said it had distributed more than $3.67 million since beginning in 2004; a final cheque will go to an undecided beneficiary after a final board meeting on March 18.