Analysis reveals multimillion-pound dividends and huge salaries at independent foster agencies
Foster care agencies run for profit by private equity investors are pushing up the cost of placing vulnerable children with families, local authorities have warned.
Concern about independent foster agencies (IFAs) came as a Guardian investigation revealed that one of the largest firms in the sector channelled money to Luxembourg via a complex loan arrangement. Analysis of the accounts of several private equity-owned IFAs, which charge councils to match children with foster carers, also reveals multimillion-pound dividends paid to investors and six-figure salaries for directors.
Continue reading...from The Guardian http://ift.tt/2FsFDEW
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