Mr Joell-Deshields was removed as director of the company and suspended as its CEO earlier this month, following allegations of bullying and claims he had used more than £7,000 of vouchers donated by sponsors to purchase luxury perfumes and Apple products.
He was also accused of sending bullying messages to a disabled volunteer and creating a “toxic” culture at the organisation which has four paid staff and more than 100 year-round volunteers.
The claims are being looked into by independent investigators acting on behalf of the board of directors.
The allegations, first reported in the Guardian, external, come at a difficult time for Pride organisations which say they are struggling to attract financial support.
Volunteers had previously told the BBC they worried that the dispute would impact the public’s trust in pride organisations.
A spokesperson for LLCP told the BBC: “The board of directors is taking action to investigate the underlying allegations raised.
“We are not in a position to comment while these investigations are taking place, save to say that we take such allegations extremely seriously, and remain committed to upholding a safe, open and inclusive organisation that is compliant with its legal and governance obligations.”
The BBC has contacted Mr Joell-Deshields for comment.
He previously told the Guardian: “The current legal and governance matters relate to the organisation itself. These matters are being addressed through the appropriate channels, and it would be inappropriate to litigate them in the press.
“Nothing in this statement should be interpreted as an admission of any allegation, nor does it comment on any other individual.”