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Shane Warne to close charitable foundation

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Melbourne - Australian cricketing legend Shane Warne's charitable foundation announced on Friday it would close after a consumer watchdog launched a probe into its financial affairs.

The charity hit out at "unwarranted speculation" over "its distribution of funds" following local media reports that most of the money it raised went on expenses such as for staging events.

Warne, the charity's chairperson, has complained about "malicious attacks and false allegations" in a Facebook post.

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