David Rowland wired the money to a London account at Banque Havilland SA held by the Queen of England’s second son in December 2017, according to interviews with two people familiar with the transactions and bank documents seen by Bloomberg News. The transfer was earmarked for repayment of a 1.5-million-pound loan from Banque Havilland the prince had taken out just 11 days earlier.
The November 2017 Banque Havilland loan, which carried an 8% interest rate, replaced an existing 1.25-million-pound facility that had been extended or increased 10 times since 2015, most recently that March. The additional 250,000 pounds borrowed by Andrew was earmarked for “general working capital and living expenses.”
A spokesperson for the Duke of York declined to comment about the transactions. Prince Andrew, the spokesperson said, “is entitled to a degree of privacy in conducting his entirely legitimate, personal financial affairs, on which all appropriate accounting measures are undertaken and all taxes duly paid.”
He was the guest of honor at the official opening of Banque Havilland. When the Rowlands opened a branch in Monaco in 2012, Andrew was there to give a speech. And when they set up a joint venture with Abu Dhabi sovereign wealth fund Mubadala in 2018, Andrew cut the ribbon at the opening ceremony. The regulator fined the bank 4 million euros in 2018 for not having safeguards in place to protect against money laundering, one of the biggest fines it had ever levied. The breaches were apparently serious enough that the regulator informed local prosecutors, who opened a criminal probe that remains open.
Andrew is a shameful member of the royal family more grief for his mother .
nomoremonarchs
Damned decent of the man.