Prince Andrew has been plunged into further controversy as a report revealed one of his key business assets was administered for two years by a company controlled by Doug Barrowman.
Following the prince's infamous Newsnight interview in 2019 about his links to Jeffrey Epstein, legal ownership of his Dragon's Den-style start-up competition, Pitch@Palace Global, was transferred to Barrowman-linked firm Knox House Trustees (UK).
A lawyer representing Mr Barrowman stated he "at no time... had any business or personal involvement with the duke".
The BBC reports that controversial millionaire Barrowman and his wife, lingerie entrepreneur Baroness Michelle Mone, recently admitted lying about their connections to a company that secured large government contracts during the Covid pandemic.
Prince Andrew has been plunged into further controversy as a report revealed one of his key business assets was administered for two years by a company controlled by Doug Barrowman.
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Companies House documents show that from 2021, Knox House Trustees (UK) served as the nominee owner of the prince's company.
This firm was controlled and ultimately owned by Mr Barrowman until 2023.
Pitch@Palace Global remained under Prince Andrew's control despite the change in legal ownership.
The arrangement followed longstanding royal practice, where assets are owned under the names of other people or companies acting as "nominees" on behalf of royals.
Prince Andrew has never personally held the company in his own name.
Prince Andrew has never personally held the company in his own name.
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The Duke of York's finances have come under intense scrutiny in recent years.
Questions persist about how he can afford to maintain his Royal Lodge mansion in Windsor after being financially cut off by King Charles.
The prince's choice of business associates has also raised eyebrows.
In December, he announced he had "ceased all contact" with Yang Tengbo, who led Pitch@Palace's Chinese arm, after UK government advice alleged Yang was a spy.
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The Duke of York's finances have come under intense scrutiny in recent years.
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Mr Yang has denied these allegations.
Despite suspending operations following the 2019 Newsnight interview, Pitch@Palace Global has emerged as a potential funding source for the duke.
The international operation had competitions in locations including Australia, Bahrain and China, and was established as a for-profit UK company.
In a 2023 court witness statement, Mr Yang wrote that Andrew needed money "and saw the relationships with China through Pitch as one possible source of funding."
