Fresh controversy for Andrew as he flies to Monaco to endorse ¿shady’ banker friend

By
Colin Fernandez

18:44 EST, 29 April 2012

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18:44 EST, 29 April 2012


Controversy: Prince Andrew has come under criticism for flying out to Monaco to support multi-millionaire businessman David Rowland

Controversy: Prince Andrew has come under criticism for flying out to Monaco to support multi-millionaire businessman David Rowland

Prince Andrew was plunged into controversy yesterday for privately flying out to the tax haven of Monaco to endorse a ‘shady’ multi-millionaire friend’s private bank.

The Duke of York appeared to support David Rowland – a businessman
branded a ‘shady  financier’ in Parliament – who helped pay £40,000 of
ex-wife Sarah Ferguson’s debts.

Andrew was guest of honour at the opening of the Banque Havilland, but
senior Labour MP Paul Flynn criticised his trip to the tiny
Mediterranean state.

The bank’s website said it is part of
a strategy to target the super-rich – described as ‘Ultra High Net
Worth clients’ – in Monaco.

Mr Flynn said: ‘There is a large question over how minor royals use
their connections, which lack transparency, to support such regimes.

‘It’s a shame they can’t find an occupation for him that’s
non-controversial. Minor royals shouldn’t be allowed to go on jaunts
like this for their own self-aggrandisement.

‘It’s a very strange position that we have someone in a very privileged
position acting in a way that appears to serve their own interests.’

Rowland was one of the friends enlisted
by Prince Andrew to help clear Fergie’s £5million debts – and paid
£40,000 to Fergie’s PR Kate Waddington.

The Monaco engagement – which did not appear on the court circular, the
list of royal engagements – is the second time Andrew has opened one of
the Rowland family’s banks.

Criticism: Senior Labour MP Paul Flynn has led the criticism over the Duke of York's trip to Monaco

Criticism: Senior Labour MP Paul Flynn has led the criticism over the Duke of York’s trip to Monaco

In 2009, when the Prince was acting
in his former role as special envoy for international trade and
investment he opened a branch of the Banque Havilland in Luxemburg.

Prince Andrew later stood down over disquiet about his friendship with convicted sex offender Jeffrey Epstein.

The following year Mr Rowland, whose
fortune is put at £730million, had to stand down as Tory treasurer
following a backbench rebellion of Tory MPs who believed he would
tarnish the party’s reputation.

This paper revealed how Rowland -old
was once accused of ‘looting’ millions of dollars from a firm he had
bought which should have been spent on cleaning up environmental-damage
from one of its factories before he had bought it.

Mr Rowland’s representatives say such claims are ‘false and unsubstantiated’.

In the late Eighties, Mr Rowland helped fund a takeover of Edinburgh Hibernian, parent of the Hibs football club.

But the deal turned sour when the
company went into receivership – after having asked thousands of fans to
put their money into the club.

That led to him being attacked as ‘shady’ in a Commons motion.

Prince Andrew’s friendship with
Rowland dates back to 2005, when he unveiled a life-size bronze statue
of Rowland – reportedly showing him smoking a fat cigar in ‘vaguely
Churchillian pose’ – in the grounds of Havilland Hall, the largest
privately owned estate on Guernsey, in 2005.

Banque Havilland made no comment on
the matter yesterday, while a spokesman for the Duke of York declined to
comment as ‘it was a private matter.’

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