PRINCE Andrew was paid tens of thousands of pounds by a businessman linked to a company that allegedly ripped off pension savers, court papers revealed.
The disgraced prince’s continued residence at the sprawling Royal Lodge has sparked outrage this week.
The King’s brother – who last week said he would stop using his royal titles, including the Duke of York – has faced scrutiny over how he funds his lifestyle since stepping back from public life in 2019.
And Andrew’s finances have remained murky ever since, with details occasionally surfacing through court cases.
It comes as Prince Andrew is “in advanced talks” with King Charles to leave Royal Lodge amid pressure from Buckingham Palace.
Following Andrew’s growing involvement in the Jeffrey Epstein sex scandal, there have been daily discussions about him leaving the rent-free house.
Now, documents from the High Court in London show the prince was paid £60,500 by businessman Adrian Gleave in December 2019.
Charles cut Andrew’s £1 million annual royal allowance last year, leaving his brother with only a £20,000 naval pension as declared income.
But questions have arisen over how he pays for the upkeep of his 30-bedroom mansion and his estimated £3 million-a-year security bill.
The new revelations that he was paid over £60k by Gleave came just weeks after his disastrous BBC Newsnight interview forced him out of public life.
However, Andrew and Gleave have still not explained why the payments were made or what kind of business relationship existed between them.
The payments emerged during a High Court case brought by elderly Turkish millionaire Nebahat Isbilen, who claimed cash she paid to Andrew and his ex-wife Sarah Ferguson had been misused by her business adviser.
But now it has been revealed that the money was routed through 55-year-old Gleave’s British firm, Alphabet Capital Ltd, court documents revealed.
According to an “agreed statement of facts” signed by or on behalf of the Duke, Duchess, Mr Gleave and Alphabet, the company had “previously made, and might in the future make, substantial payments to Prince Andrew“.
The payments came months after Gleave stepped down as a director of SVS Securities, which collapsed in August 2019, court documents revealed.
Gleave had joined SVS in 2013 as head of business development.
But SVS Securities was shut down by the Financial Conduct Authority (FCA) over allegations of pension mis-selling.
Investigators later found clients’ pension funds had been funnelled into high-risk investments to generate hefty commissions for the firm.
Some of those investments defaulted, leaving savers nursing heavy losses, according to court papers.
Meanwhile, the FCA also found that customers were charged excessive withdrawal fees to boost company profits.
Three SVS directors were later banned and fined by the FCA, but Gleave was not among them and two are appealing the decision.
The Financial Services Compensation Scheme has since paid out over £41 million to former SVS customers.
Baroness Margaret Hodge, former chair of the Commons Public Accounts Committee, said Gleave’s background raised serious questions about Andrew’s financial judgement.
She said: “This is yet another instance where a dose of transparency would help answer legitimate questions about the origins of the money and the purpose of the payment.
“Without those answers, anyone would worry that something improper could have taken place — and that risks further damaging the reputation of the Royal Family.”
Prince Andrew’s representatives have been contacted for comment.
Court documents also show that Gleave’s Alphabet Capital was used to route other payments from Ms Isbilen to Andrew and his ex-wife.
Sarah Ferguson was paid £50,000 by Alphabet in February 2020.
And she was also previously paid £20,000 by the company for an advisory role, and more than £200,000 for work promoting a US solar energy firm.
Another £10,000 from Alphabet went to the couple’s daughter, Princess Eugenie, along with £15,000 from Ms Isbilen’s adviser.
Eugenie has said the money was a gift from a “long-standing family friend” to pay for a surprise party for her mother.
Prince Andrew also received £750,000 directly from Ms Isbilen — money he has since repaid.
Alphabet Capital had filed accounts claiming it was dormant at the time of these payments – a statement later corrected.
The firm’s reported turnover was just £80,000.
Time’s up
Meanwhile, sources have confirmed that the pariah prince is having discussions with representatives of the King about finally leaving the 30-room mansion in Windsor.
He cannot legally be evicted from the property due to a “cast iron” lease.
The prince has 50 years left on his pre-paid lease, and will legally have to be compensated if he is forced to move out.
It comes after further revelations that Andrew has not paid rent for decades, fuelled calls to kick him out of Royal Lodge over links to paedophile billionaire Jeffrey Epstein.
The growing scandal comes on the week his sex accuser, Virginia Giuffre – whose claims he has always denied – published her posthumous memoir, and follows the bombshell announcement that he will relinquish his Duke of York title.
With his reputation in tatters, the Royal Lodge is viewed in many quarters as the prince’s last status symbol, though details of his life there with ex-wife Sarah Ferguson have remained shrouded in mystery.
However, where Andrew will live if he leaves Royal Lodge is another problem on the cards.
Andrew is understood to be keen not to be exiled to Norfolk or Scotland and wants to remain in London or Windsor, close to his daughters.
But moving him to Buckingham Palace or Windsor Castle would also risk accusations that he is being rewarded rather than punished.
Charles is believed to have decided “enough is enough” amid public fury that erupted as it was revealed his brother has paid no rent on the lavish property for more than two decades.
Next home?
The Sun sources can reveal today that Andrew has been offered an escape route by Abu Dhabi’s super-rich ruler, Sheikh Mohamed bin Zayed Al Nahyan.
The sheikh has offered free use of a vast royal palace next to an idyllic waterway in the desert kingdom.
He is said to have made the gesture to show his gratitude for Andrew’s “kindness” to United Arab Emirates royals when he was the UK’s international business envoy.
The palace – visible in satellite imagery in a secure diplomatic area – extends well over 1,500 square meters on a prime plot reserved for VIPs.
It has six en suite air-conditioned bedrooms, an indoor gym including swimming pool, a home cinema and large kitchen and live-in staff including a team of chefs.
A source told The Sun: “Abu Dhabi’s royal family have made it clear to Andrew that the palace is his if he wants it.
“It gives him an option should his position in the UK become untenable.
“He has come under enormous pressure following recent developments and The King and Prince William are nearing the point where they’ve had enough.
“Andrew would be afforded every luxury if he makes the move to the UAE but the climate will take him – and Fergie – some time to get used to.
“Temperatures often top 50Deg °C in the summer months meaning he would have to spend much of his time with air conditioning indoors.”
