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Prince Andrew, who recently announced he would no longer be using his royal titles, was found to have received tens of thousands of pounds from a British businessman with ties to a wealth management firm involved in a pension scam. The Duke of York’s financial dealings have long been a subject of scrutiny, especially following his association with convicted sex offender Jeffrey Epstein and subsequent withdrawal from his royal duties in 2019.
Documents from the High Court in London revealed that Prince Andrew received £60,500 from British businessman Adrian Gleave in December 2019, shortly after a controversial interview that led to his public retreat. The payments were highlighted in a case brought by a Turkish millionaire, Nebahat Isbilen, who alleged that money she had given to Andrew and his ex-wife, Sarah Ferguson, had been mismanaged by a business adviser associated with Mr. Gleave’s company, Alphabet Capital Limited.
Mr. Gleave, who previously served as head of business development at SVS Securities, a company embroiled in a scandal involving pension mis-selling, was revealed to have made substantial payments to Prince Andrew. Despite disassociating from SVS prior to its collapse in 2019, Mr. Gleave’s financial dealings have raised questions about his judgment and associations. The Financial Conduct Authority intervened following reports of high-risk investments leading to substantial losses for pension savers and subsequent collapse of the firm.
Furthermore, in addition to direct payments made to Prince Andrew, Alphabet Capital was used to transfer significant sums from Ms. Isbilen to Andrew and his ex-wife, Sarah Ferguson. Despite attempts to clarify the nature of these transactions, both parties have remained tight-lipped about the reasons behind the payments. The lack of transparency has drawn criticism from public figures, with concerns about potential financial impropriety tarnishing the reputation of the Royal Family. Prince Andrew, Mr. Gleave, and Ms. Ferguson have all refrained from commenting on the matter
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