Control of one of London's largest churches has been passed to a new charitable company and new trustees following a two year investigation by the Charity Commission.
Because of concerns that emerged during a routine visit, the regulator sent an interim receiver and manager to take temporary charge of the King's Ministries church, whose assets were worth more than £7m.
Sarah Jane Digby, a spokeswoman for the commission, said: "The main concern centred on unauthorised trustee benefit received by all the trustees, and various conflicts of interest."
The name of the new charity is the Kingsway International Christian Centre.
The Charity Commission's head of investigations, David Rich, wished it well in the future.