Prince Andrew’s personal piggy bank pays off £1.5m loan

World

Prince Andrew’s personal piggy bank pays off £1.5m loan

The Duke of York has helped top political donor David Rowland and Banque Havilland pitch clients for years

Harry Wilson and Gavin Finch

One of the British Conservative Party’s biggest donors transferred £1.5m (R30.7m) to Prince Andrew days after the prince borrowed a similar amount from a Luxembourg private bank controlled by the businessman’s family.

David Rowland wired the money to a London account at Banque Havilland held by Queen Elizabeth II’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 £1.5m loan from Banque Havilland the prince had taken out just 11 days earlier.

The transactions offer a unique insight into something the British public has puzzled over for years — how Andrew could afford his lavish lifestyle on a relatively modest stipend. They also raise fresh questions about the potential conflicts created by his dubious social circle, which included the late paedophile financier Jeffrey Epstein...

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