A new headache for the royalty. One of the largest donors to the British Conservative Party transferred 1.5 million pounds ($ 2 million) to Andrew of York, the queen’s third son Elizabeth II of the United Kingdom, days after the prince requested a loan for a similar amount from a Luxembourg bank controlled by the businessman’s family.
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David Rowland transferred the money to a Banque Havilland account, owned by Andrés de York, in December 2017, according to two sources familiar with the bank transactions and documents cited by Bloomberg. The transfer was intended for the repayment of a 1.5 million pound loan de Banque Havilland that the prince had taken out just 11 days before.
The strange loan offers a glimpse into something that British public opinion has wondered for years: How could Andrew of York indulge in your luxurious lifestyle on a relatively modest salary from the British royal family? New questions also arise about the prince’s dubious social circle, which included the late billionaire pedophile Jeffrey Epstein.
The strange millionaire loan
Prince Andrew, who had operated as something of an unofficial facilitator for Rowland and his wealthy family for more than a decade, was able to apply for the money despite a warning from Banque Havilland staff that the loan “It was not in line with the bank’s risk appetite”, as shown by an internal credit application.
The bank rarely, if ever, made unsecured loans to clients, former employees said. This was approved in part because it opened “More business opportunities with the British royal family”said a note in the same document. “Although the (increased) loan is not guaranteed and is granted solely on the basis of the credibility of the applicant, both his position and the fact that his mother is Queen of the United Kingdom should provide access to funds for repayment if necessary ”.
The loan, which had an interest rate of 8%, was due in March 2018, but prepaid using 1,503,000 transferred pounds to the prince from a Guernsey-registered company controlled by the Rowland family, according to one of the sources. The documents show that the money was directed through a Banque Havilland account belonging to Albany Reserves Ltd.
The Albany Reserves account was one of about 70 that the Rowland family opened at Banque Havilland over the years, said the source, who had direct knowledge of the accounts and asked not to be identified for fear of retaliation. David Rowland is listed as a director of Albany Reserves, according to company files.
What did Andrew of York say?
A spokesman for Andrés de York consulted by the aforementioned medium declined to comment on the controversy surrounding the strange transactions. “Prince Andrew you have the right to a degree of privacy in the conduct of your personal financial affairs, totally legitimate, on which all appropriate accounting measures are taken and all taxes are duly paid “, said.
Furthermore, a spokesperson for Banque Havilland said that could not comment about customers. In addition, David Rowland did not respond to emails and messages asking about the terms of the transfer made to the son of Queen Elizabeth II of the United Kingdom.[display-posts orderby="rand"]