The Queen of Pop had previously urged her fellow celebrities to donate for the cause, which is backed by Jewish mysticism Kabbalah and dedicated to helping Malawi''s one million poverty-stricken orphans.
The US-based channel claimed that fourteen months ago the entire event was alleged to have been underwritten and the amount divided between Raising Malawi and UNICEF.
But, both the Gucci Foundation and Madonna"s non-profit organisation were yet to file a Form 990 tax statement, leaving room for suspicion, according to the channel. The development comes at a time when the megastar is back in the African country for a second adoption.
The 50-year-old, who adopted three-year-old David Banda from the region, recently pleaded to Lilongwe"s High Court to let her take home four-year-old Mercy James, whose teenage mother had died three years ago. She will next appear in court for the ongoing adoption process on April 3.