Prince Andrew cops heat over $2.8 million ‘gift’
A businessman’s $A2.8 million gift to Prince Andrew has sparked some uncomfortable questions for the embattled royal.
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Prince Andrew was gifted £1.5 million ($A2.77 million) by controversial businessman David Rowland to pay off a loan, it has been claimed, adding more unwanted attention on the embattled royal
Reports in the UK have claimed that Prince Andrew borrowed the same amount from Luxembourg’s Banque Havilland, which is controlled by Mr Rowland’s family, 11 days earlier in 2017.
Mr Rowland, one of the Conservative Party’s biggest donors, is considered a long-term friend of Prince Andrew. He also has been described as a financial adviser to the prince.
In 2018, Mr Rowland had a front-row seat at Princes Eugenie’s wedding at Windsor castle.
The borrowed money was understood to have been for “general working capital and living expenses”.
Prince Andrew’s only known income is a Royal Naval pension of £20,000 ($A37,000) and an annual, tax-free payment of £250,000 ($A461,000) from the Queen, yet he has maintained a lavish lifestyle.
In 2020, The Sun reported that he had a personal fortune of £57 million ($A105 million).
He stepped away from royal duties in 2019 over his friendship with millionaire paedophile Jeffrey Epstein.
He is facing a civil case from Virginia Roberts Giuffre, who claims he abused her three times when she was 17 – in London, New York and on Epstein’s private island in the Caribbean.
Her lawsuit, filed in New York in August, accused the duke of sex assault and even “rape in the first degree”.
Prince Andrew has not been criminally charged and has repeatedly denied the allegations.
The Times reported that the Duke of York had opened an account at Banque Havilland in 2015, borrowing an average of £125,000 every three months.
Banque Havilland “categorically denies” any suggestion of wrongdoing, as have the royal’s representatives.
“The Duke of York is entitled to a degree of privacy in conducting his entirely legitimate personal financial affairs, on which all appropriate accounting measures are undertaken and all taxes duly paid,” a spokesman said.
Mr Rowland’s gift to the duke has caused raised eyebrows in Britain, with former Home Office minister Norman Baker calling for a full investigation.
“The Rowlands are hard-headed businessmen,” he told The Sun.
“They won’t have given Andrew that money out of the goodness of their hearts – they will want something in return.
“Significant questions need to be asked about Prince Andrew’s business dealings and his association with some characters. Parliament should investigate this with some urgency.”
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Originally published as Prince Andrew cops heat over $2.8 million ‘gift’
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