Prince Andrew has found himself in yet in another trouble as the future of his finances hangs in balance, and King Charles won’t be able to help.
The Duke of York, who is currently kept at an arm’s length from the royal family given is slew of scandals, had recently showed “legitimate source of income” of nearly £1 million per year in a bid to keep the Royal Lodge after the monarch cut him off financially.
Andrew had set up the investment fund under the name HRH Andrew Inverness in 2013. The Duke had a “significant control over” the firm and had it bailed out last year from a major debt.
Just few weeks before Christmas, it was discovered that Andrew’s “close confidante” Yang Tengbo, was allegedly a Chinese spy. The accused, who is banned from the UK on national security grounds, was even invited to the royal residences on different occasions.
Soon after the news was made public, Andrew issued a statement that he “cut all ties” with the “spy” after the news. Although, that has not stopped Andrew from facing the dire consequences of his actions.
First, Andrew was forced to “uninvite” himself from the family Christmas celebrations and now his finances seemed to receive another big hit.
The company, Urramoor Limited, managing Andrew’s investment fund has now been “applied to be struck off just a year after being bailed out by a mystery donor”, per a report by The Sun.
A previous report last week revealed that the company was suffering from a debt of £208,000, but an anonymous source in December 2023 helped it secure £210,000. However, the company did not manage to survive more than a year as £230,000 has been pulled from Andrew’s initiative Pitch@Palace.
The update comes after questions are raised over Andrew’s luxurious lifestyle after being cut off from the royal funding. The Duke, who has desperately trying to keep his Royal Lodge, is now expected to pay for his own security and lifestyle, which was previously supported by Charles’ personal pocket.
The new blow also spells bad news for Andrew’s future in the royal family, particularly at Royal Lodge, since King Charles is “furious” over his errant brother’s spy scandal.
It is understood that Andrew and his recent scandal was a major topic of discussion between the King and the senior royals during the Sandringham Summit. They are expected to come up with a verdict to deal with the Andrew situation moving into 2025.
