Fondation Saint-Roch faces investigation into its funding

The Fondation Saint-Roch, known for supporting several contemporary artists and for its partnerships with Paris galleries, is under investigation over the origin of some of its funding and several property arrangements. Accounts have been temporarily frozen and an exhibition scheduled for April has been postponed. Management says it is cooperating fully with the authorities and denounces what it calls disproportionate suspicions. Several employees have been placed on precautionary leave, while two contractors have announced that they are suspending their work with the foundation. The cultural sector has been surprised both by the suddenness of the case and by the scale of the inspections. In recent years, the foundation, previously regarded as sound, had increased its acquisitions and assistance to organisations in difficulty. No one has been formally charged. Saint-Roch’s lawyers say the requested documents concern entirely lawful transactions. The investigation could nevertheless disrupt the foundation’s programme and several projects it funds for some time.