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 financial scrutiny deepens around the York sisters’ opulent lifestyles, new insights emerge from a recent book
A new publication, Entitled by historian Andrew Lownie, has shed light on the generous six-figure “wedding gifts” bestowed upon Princesses Eugenie and Beatrice, reigniting debates about the financial foundations of their extravagant travels and events. The revelations suggest ties between these gifts and the Duke of York’s personal finances, raising questions about the sources of their wealth.
Controversial guests and their contributions
The book highlights how Tarek Kaituni, a convicted Libyan gun trafficker, was a guest at Eugenie’s 2018 wedding and had previously gifted her a £18,000 diamond necklace for her 21st birthday. Meanwhile, Turkish businesswoman Nebahat Isbilen reportedly transferred £750,000 to the Duke’s private account, which was allegedly allocated for Beatrice’s ceremony.
“That is not the purpose for which these small Chinese investors paid their money in to the company,” remarked a judge during a 2022 legal review, casting doubt on the legitimacy of certain expenses tied to Gate Ventures.
Gate Ventures and the court battle
In 2018, when Eugenie married Jack Brooksbank at Windsor Castle, the event drew high-profile attendees such as Naomi Campbell and Cara Delevingne. Among them was Dr. Johnny Hon, a Hong Kong tycoon with a connection to Sarah Ferguson, the Duchess of York. She had joined his board as a non-executive director the year prior, reportedly to assist with global expansion strategies.
However, tensions arose when Chinese investors challenged the company, alleging that £24 million raised from shareholders had been misused. Claims surfaced that £19 million of this amount was “lost” and that “lavish” expenditures, including unusual dealings with offshore entities, were made without transparency. Dr. Hon, who charged £3 million in expenses, defended the transactions as “legitimate business costs” benefiting Gate Ventures.
“No part of the spending was for my personal benefit or enjoyment,” Dr. Hon claimed, emphasizing the necessity of the expenditures.
Connections to Middle Eastern and Libyan figures
Three years after the wedding, the sisters’ parents were linked to a four-day Tunisian getaway, reportedly funded by a Middle Eastern billionaire. The trip included a meeting with Colonel Gaddafi, further entangling the Duke’s financial network with regional interests. Kaituni, who had known the Duke since 2005, and business advisor Selman Turk were both said to have interacted with Andrew during this time.
The financial controversies took a new turn in 2022 with the Virginia Giuffre settlement, which prompted fresh scrutiny of the Duke’s assets. Nebahat Isbilen, currently suing Turk for £40 million over alleged mismanagement, pointed to a £750,000 transfer to Andrew’s account in 2019 as part of the dispute. Turk had claimed the payment was tied to facilitating her Turkish passport application, while the Duke’s office described it as a “gift for the wedding” or a “gift to Princess Beatrice.”
“What she and her family decide to do with it is really to do with them, isn’t it?” a representative from the Duke’s office reportedly said, downplaying the significance of the funds.
Pitch@Palace and the lingering questions
The payment to the Duke occurred just nine days after Turk won an award at Pitch@Palace for his digital bank concept. Sources criticized the award as “appalling,” suggesting Turk’s influence over the Duke’s finances extended beyond mere business ties. The insider who shared these details with Lownie noted, “I just remember thinking, ‘How did he get through…'” hinting at the broader implications of the Duke’s financial decisions.