Prince Andrew’s Finances in Crisis

Prince Andrew finds himself in more financial trouble as the future of his finances hangs in the balance, and King Charles is unlikely to provide any assistance. The Duke of York, who has been distanced from the royal family due to a series of scandals, recently showed a “legitimate source of income” of nearly £1 million per year in an attempt to retain the Royal Lodge after the monarch cut him off financially.

Andrew had set up an investment fund, HRH Andrew Inverness, in 2013 and had significant control over the firm. The company was bailed out last year after facing major debt, but his financial troubles seem far from over.

The Duke’s problems deepened just weeks before Christmas when it was revealed that his “close confidante,” Yang Tengbo, was allegedly a Chinese spy. Tengbo, who is banned from the UK on national security grounds, had been invited to royal residences on multiple occasions. Following the news, Andrew issued a statement saying he had “cut all ties” with Tengbo, but the damage had already been done.

The fallout from the scandal has been swift. Andrew was forced to “uninvite” himself from the family Christmas celebrations, and now his finances have taken another significant hit.

According to The Sun, the company managing Andrew’s investment fund, Urramoor Limited, has now applied to be struck off, just a year after being bailed out by a mystery donor. A previous report revealed that the company was burdened with a debt of £208,000, but an anonymous source provided £210,000 to help it stay afloat. However, the company couldn’t recover, as £230,000 was pulled from Andrew’s initiative, Pitch@Palace.

This financial blow comes amid growing questions about Andrew’s lavish lifestyle after being cut off from royal funding. The Duke, who had relied on King Charles’ personal funds for his security and lifestyle, is now expected to cover these costs on his own.

The scandal surrounding Andrew’s financial struggles and his connection to the spy has also caused tension within the royal family. King Charles is reportedly “furious” over his brother’s actions, and the matter was a significant topic of discussion during the Sandringham Summit. It is expected that the senior royals will come to a decision about Andrew’s future within the royal family as 2025 approaches.