Prince Andrew’s royal sleaze fears as tax haven banker pays Duke’s £ 1.5million loan

As it has been revealed that a Tory donor repaid Prince Andrew’s £ 1.5million loan to a bank owner through the donor’s family, there are calls for an investigation into the royal’s relationship with the tycoon

Video upload

Video unavailable

Prince Andrew: expert on the chances of a return to public life

A large Tory donor has transferred £ 1.5million to Prince Andrew to repay a loan from an offshore bank owned by the donor’s family, it was revealed today.

There have been requests for an investigation into the Duke of York’s relationship with real estate mogul David Rowland and Bank Havilland.

The bank made the unusual £ 1.5million loan to Andrew in 2017, in part because it opened up “further business potential with the royal family,” insiders told financial reporting service Bloomberg.

But 11 days later, Mr Rowland transferred the same amount to the Duke’s account with the bank. Graham Smith of the anti-monarchy group Republic said: “Andrew received the money with the clear hope that he would lobby on their behalf while representing Britain. It needs to be investigated.

David Rowland and Prince Andrew in 2006


David Hartley / REX / Shutterstock)

Mr Rowland has donated £ 6,104,034 to the Conservative Party and has been friends with Andrew since at least 2005.

The prince was at the opening of Banque Havilland in the Luxembourg tax haven in 2009, at the opening of a Monegasque branch in 2012 and at the launch of his joint venture with the sovereign fund of Abu Dhabi Mubadala in 2018.

In 2010, Mr Rowland was Andrew’s guest at Balmoral, where he is said to have met the Queen and Prince Charles.

Months later he paid £ 40,000 to help write off the debts of Andrew’s ex Sarah Ferguson. The Rowlands joined Andrew on a trade envoy trip to China that year, attending some meetings.

David Rowland, Prince Andrew and Queen Elizabeth II before the start of the Ladies Day Gold Cup race at Royal Ascot in 2006


David Hartley / REX / Shutterstock)

Do you like the royal family? Sign up for the Mirror’s daily newsletter to get all the latest news on The Queen, Charles, Kate, Wills, Meghan, Harry and the rest of The Firm. Click here to join.

As the Duke risked losing his role as envoy in 2011 over his friendship with Jeffrey Epstein, Mr Rowland’s son Jonathan suggested their activities could continue “under the radar”. Andrew replied, “I like your thinking.”

Andrew had a 40% stake in Inverness Asset Management owned by the family business Rowland Blackfish Capital Management.

It had a £ 1.25million loan facility with Havilland between 2015 and 2017. A new £ 1.5million loan was approved in 2017 despite an internal filing showing it did not. was “not in line with the bank’s risk appetite.”

It’s been two years since Andrew Newsnight interviewed


Former staff said such “unsecured” loans were rarely made to individuals. He was reimbursed soon after a transfer from an account in the name of Albany Reserves which was controlled, according to sources, by the Rowland family.

Former Minister Norman Baker said: “Parliament should investigate.”

A spokesperson for Andrew said: “The Duke is entitled to a certain degree of confidentiality in the conduct of his very legitimate personal financial affairs, on which all appropriate accounting actions are taken and all taxes duly paid. “

Banque Havilland declared: “Compliance with legal and regulatory requirements is the bank’s top priority. Any inference of wrongdoing is categorically denied. David Rowland was not available for comment.

Comments are closed.