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
Investigation into the York sisters’ extravagant financial support raises new doubts about Andrew Mountbatten-Windsor’s funding sources
A recent publication, Entitled, by historian Andrew Lownie has uncovered detailed insights into the substantial ‘wedding gifts’ given to Princesses Eugenie and Beatrice, reigniting debates about the financial arrangements involving the Duke of York. The revelations highlight the unusual generosity of the gifts, which reportedly exceeded six figures, and have sparked fresh scrutiny into the duke’s personal finances.
Libyan associate and Turkish benefactor linked to royal nuptials
Among the guests at Eugenie’s 2018 wedding, which took place at Windsor Castle, was Tarek Kaituni—a convicted Libyan gun smuggler. Kaituni had previously gifted Eugenie an £18,000 diamond necklace for her 21st birthday. Meanwhile, Turkish millionairess Nebahat Isbilen was said to have transferred £750,000 to the disgraced duke’s personal bank account, allegedly to cover costs for Beatrice’s ceremony.
“It is a gift for the wedding or a gift to Princess Beatrice… I mean, I’m not sure it makes much difference, does it? I think it’s a gift for the wedding… What she and her family decide to do with it is really to do with them, isn’t it?”
The presence of these high-profile attendees, coupled with their significant contributions, has drawn attention to the royal family’s financial strategies. Questions persist about how the princesses’ extravagant jet-setting habits were supported, with some suggesting their parents’ financial ventures played a key role.
Chinese investors’ claims against Gate Ventures
In 2018, the Duke of York’s wedding was attended by a Hong Kong tycoon, Dr Johnny Hon, who had a prior connection to the Duchess of York, Sarah Ferguson. She had become a non-executive director at Gate Ventures, a venture capital firm Hon chaired, the year before. However, tensions arose when Chinese investors sued the company, alleging it had provided misleading data about loans to Ginger & Moss, a company founded by the duchess.
“That is not the purpose for which these small Chinese investors paid their money in to the company.”
The investors claimed £24 million raised from shareholders had been largely “lost,” with £19 million reportedly misused. Later reports suggested the firm had engaged in lavish spending and unusual transactions with offshore entities, including a loan to Manuel Fernandez’s company, vVoosh, in which the duchess had invested.
Controversy over payments and passport deals
Three years after the 2018 wedding, the princesses were said to have enjoyed a four-day trip to Tunisia, funded by a Middle Eastern billionaire. The visit reportedly included a meeting with Colonel Gaddafi. Kaituni and business adviser Selman Turk were both connected to the duke, raising questions in 2022 when the Virginia Giuffre settlement brought renewed focus on his financial dealings.
Isbilen, who was simultaneously suing Turk for £40 million, accused him of misusing funds. One such instance involved a £750,000 transfer to Andrew’s personal account in 2019, which Turk claimed was to assist Isbilen in obtaining a Turkish passport. Andrew’s office allegedly defended the payment as a gift for the wedding, leaving the exact intent ambiguous.
“No part of the spending was for my personal benefit or personal enjoyment. It was hard, often exhausting, but necessary work.”
Dr Hon, who declined to comment on Lownie’s book, also emphasized that all expenses charged to Gate Ventures were “for the benefit of Gate and were legitimate business expenses.” Despite his assertions, the timing of the payment—just nine days after Turk won an award at Pitch@Palace for his digital bank idea—prompted further criticism, with some calling the decision “appalling.”
