Prince Andrew finds himself in fresh turmoil following a groundbreaking revelation
Hoppin' Trouble for Prince Andrew: Millionaire Doug Barrowman Ties Revealed
The Duke of York, Prince Andrew, is once again finding himself in the spotlight, this time due to shocking revelations about his business connections to millionaire, Doug Barrowman.
Prince Andrew's main business asset, the Pitch@Palace Global competition, modeled after BBC's Dragons' Den, had its legal possession handled by a company linked to Barrowman-led Knox House Trustees (UK), as per the BBC's report.
Barrowman and his wife, lingerie entrepreneur Baroness Michelle Mone, were recently caught in a web of lies about their ties to a company securing big-ticket government contracts during the pandemic.
A lawyer for Mr. Barrowman claimed that he lacked any personal or business involvement with the Duke.
Documents from Companies House show that, starting from 2021, the nominee owner was Knox House Trustees (UK), a company under Barrowman's control until 2023.
However, the Duke managed to retain control over Pitch@Palace despite the legal ownership change. This arrangement followed the traditional royal practice where assets are owned by others acting as "nominees" on behalf of the royals.
The question remains on how Prince Andrew can continue to afford his lavish Windsor estate, the Royal Lodge, after being financially cut off by King Charles. The Duke's selection of business partners has also stirred concerns.
In December, the Duke announced the end of his ties with Yang Tengbo, who headed Pitch@Palace's Chinese arm. Allegations against Yang, stating he was a spy, were raised by the UK government, but he has denied these claims.
Insights:
Nominee Ownership Practice
Nominee Ownership refers to a financial arrangement where a person or company acts as the legal owner of an asset on behalf of the true beneficial owner. This practice is often used for privacy or legal reasons, allowing the actual owner to remain anonymous. In the context of royal assets, it follows a longstanding tradition where assets are owned under nominees to maintain discretion and manage legal responsibilities.
Relationship with Doug Barrowman
While Prince Andrew's connection to Doug Barrowman is through Knox House Trustees (UK), Barrowman's lawyer has claimed that he had no personal or business dealings with the Duke. Still, concerns have arisen due to Barrowman and his wife's scandal involving their ties to companies securing large government contracts during the pandemic.
Impact and Controversy
This controversy further fuels Prince Andrew's financial scrutiny, particularly considering his financial circumstances after being disconnected by King Charles. The Duke's ability to maintain his lifestyle, including the upkeep of his Windsor abode, has sparked discussions about his financial management and questionable business partners. Prince Andrew's decision to sever ties with Yang Tengbo is an attempt to address some of the criticism surrounding his business ventures.
- In the midst of Prince Andrew's latest public drama, his relationship with millionaire Doug Barrowman has come under scrutiny.
- The BBC has reported that Prince Andrew's main business asset, Pitch@Palace Global, had its legal possession handled by a company linked to Knox House Trustees (UK), which is allegedly under Barrowman's control.
- Although Barrowman's lawyer claims no personal or business involvement with the Duke, Barrowman and his wife, Baroness Michelle Mone, were recently embroiled in a scandal regarding their ties to companies securing big-ticket government contracts.
- Despite the legal ownership change, documents from Companies House show that Knox House Trustees (UK) has been the nominee owner of Prince Andrew's assets since 2021, up until 2023, following the traditional royal practice of nominee ownership.
- The Duke's selection of business partners, including Doug Barrowman and Yang Tengbo, has led to concerns about his financial management and choice of associates.
- With King Charles cutting off his finance, the Duke now faces scrutiny over his ability to afford his lavish estate, the Royal Lodge, and questions about the persistence of his business ventures continue to persist.
