As questions grow over who funded the York sisters’ lavish lifestyles, how a Libyan gun smuggler was invited to Eugenie’s wedding, while bride Beatrice received ‘£750,000 as a gift’ from Turkish millionairess
As questions grow over who funded the York sisters’ lavish lifestyles, how a Libyan gun smuggler was invited to Eugenie’s wedding, while bride Beatrice received ‘£750,000 as a gift’ from Turkish millionairess
Exclusive revelations into the financial backing of the royal sisters
A new book has uncovered fresh details about the substantial ‘wedding gifts’ given to Princesses Eugenie and Beatrice, raising new concerns about Andrew Mountbatten-Windsor’s financial situation. Historian Andrew Lownie’s work in Entitled highlights how a convicted Libyan arms dealer, Tarek Kaituni, attended Eugenie’s nuptials and gifted her a £18,000 diamond necklace for her 21st birthday.
Meanwhile, a Turkish businesswoman, Nebahat Isbilen, allegedly transferred £750,000 into the Duke’s personal account, which was reportedly earmarked for Beatrice’s ceremony. These revelations have intensified scrutiny over the princesses’ extravagant spending habits, with their parents’ financial dealings under close examination.
Financial entanglements linked to royal family
The attendance of high-profile individuals at the 2018 royal wedding at Windsor Castle has sparked questions about how the princesses’ costly global lifestyle was supported. Among the guests was a Hong Kong tycoon, Dr. Johnny Hon, who had a prior connection with the Duchess of York, Sarah Ferguson.
Isbilen, who also sued Hon for £40 million, alleged that funds were misused. The book notes that Hon claimed to have covered expenses including £8,000 for a tea meeting with the Duchess, while his company, Gate Ventures, reportedly funneled money into the Duke’s account. The insider added: ‘I just remember thinking, “How did he get through?”‘
Controversial ties and offshore dealings
Following a dispute involving Chinese investors, Gate Ventures faced claims of misleading information about loans given to Ginger & Moss, a venture founded by Sarah Ferguson. The firm raised £24 million from shareholders, with £19 million allegedly ‘lost’ during its operations. Additional reports highlighted unusual transactions with overseas entities and expenses linked to the Duke’s personal use.
Isbilen’s case against Hon intensified in 2022, as the Virginia Giuffre settlement prompted further inquiries into the Duke’s finances. Her accusation that £750,000 sent to Andrew’s account in 2019 was a disguised gift for the wedding, not a personal expense, adds another layer to the financial narrative. Meanwhile, Kaituni’s presence at the event and his long-standing relationship with Andrew since 2005 have drawn additional attention.
Debates over legitimate business vs. personal gain
Dr. Johnny Hon insisted all company expenses were ‘for the benefit of Gate and were legitimate business costs.’ He also claimed no personal profit was derived from the spending. However, a judge noted that ‘That is not the purpose for which these small Chinese investors paid their money in to the company.’
Isbilen’s allegations against Hon were compounded by her own claims of financial mismanagement, which coincided with the Duke’s alleged role in aiding her passport application. The timing of the £750,000 transfer, nine days after Turk won an award at Pitch@Palace, has further fueled debate about the transaction’s true intent.
