Princess Eugenie reportedly received £25,000 in gifts linked to the same network of funds
Prince Andrew’s finances are again under the microscope after new High Court filings revealed he accepted payments from a businessman connected to a wealth firm accused of defrauding pension investors.
Documents show that in December 2019, the King’s brother received £60,500 from Adrian Gleave through Alphabet Capital Limited. The payment came just weeks after Andrew’s controversial BBC Newsnight interview and months after he had stepped back from public duties.
Meet the Bangor, co Down businessman Adrian Marcus Gleave (51) whose company paid Prince Andrew £350,000 and Sarah Ferguson £250,000 and Princess Eugenie £10,000. What for? "consultancy" apparently.
— nwl (@nwl88444048) April 24, 2022
Adrian runs caravan parks. There are contested claims of money-laundering. pic.twitter.com/i7w87fxS1n
The funds surfaced during a High Court case launched by a Turkish millionaire who alleged that money she had entrusted to Andrew and Sarah Ferguson was mishandled by an adviser. According to court papers, Alphabet Capital “had previously made, and might in the future make, substantial payments to HRH Prince Andrew, Duke of York.”
The timing raised eyebrows. Earlier that year, the Financial Conduct Authority had shut down SVS Securities, a company where Andrew had served as a director. Regulators accused the firm of mis-selling high-risk bonds and charging excessive fees, leaving investors facing heavy losses. Although several directors were later banned, Gleave was not among them.
At the time, Gleave also managed several caravan parks in Northern Ireland and England, some of which have since gone into administration.
Sarah Ferguson received £50,000 from Alphabet Capital in February 2020, in addition to over £200,000 in earlier consultancy payments. Andrew also accepted £750,000 directly from the Turkish claimant, which he has since repaid.
Princess Eugenie reportedly benefited as well, receiving £10,000 from Alphabet Capital and £15,000 from the same adviser. She described these as gifts from a “long-standing family friend” to help fund a surprise party for her mother.
