PanamaTimes

Friday, Jul 26, 2024

Prince Andrew Potentially Implicated in Court Over £15 Million Mansion Sale in Money Laundering Allegations

Prince Andrew might be involved in a new legal case concerning allegations that his £15 million mansion sale was part of a money laundering scheme. In 2007, he sold Sunninghill Park, a luxury property in Berkshire, to Kazakh businessman Timur Kulibayev, a transaction that has been surrounded by controversy.

According to a disputed report by private investigators, there are suspicions that the purchase of the Berkshire estate was for laundering money embezzled from the sale of Kazakh state-owned assets. This allegation has led to a High Court writ filed by Arvind Tiku, an associate of Mr. Kulibayev. Tiku, a billionaire, claims the report infringed upon his data protection rights and is reportedly false. This assertion is supported by his lawyers, who noted that a three-year investigation by law enforcement agencies into the sale resulted in no further action.

As Andrew, 61, braces for his civil sex assault case brought by Virginia Giuffre – allegations he denies – he may also face being summoned as a witness in this property case. The contested report by London-based S-RM Intelligence, which was hired in 2015 to investigate Indian-born Mr. Tiku, 51, suggests Tiku was involved in embezzling and laundering several hundred million dollars, including through the purchase of Sunninghill Park.

Tiku is further accused of aiding Mr. Kulibayev in laundering about £450 million in various enterprises. However, his lawyers emphasize that these allegations were investigated by Swiss and Kazakh authorities, with no charges filed. They also accuse the cybersecurity firm of unlawfully processing Tiku’s personal data, stating that he was never Mr. Kulibayev’s "trusted representative," had no role in embezzling funds or laundering money through the property purchase.

Mr. Tiku, whose net worth is estimated at £1.63 billion, is seeking £50,000 in damages. He demands the deletion of his personal data from the firm’s records and has requested all information about him by February 19. The sale of Sunninghill Park, once compared to the ostentatious mansion in the 1980s soap "Dallas," has long been a source of speculation and controversy for Prince Andrew. In 2016, leaked emails revealed Andrew’s attempt to have Mr. Kulibayev accepted as a client by the Queen’s bank, Coutts.

No comments were provided by S-RM or lawyers for Mr. Kulibayev, who has previously denied any wrongdoing and regards the report's claims as false.

Update:

Mr. Tiku’s data protection claim against S-RM has been settled. S-RM agreed to erase its report on Mr. Tiku’s affairs following the submission of information and documentation by him. S-RM's decision considered the closure of Swiss and Kazakh authorities' investigations into Mr. Tiku's business dealings in 2013, which did not result in any charges or findings of wrongdoing. Consequently, S-RM acknowledged the investigated allegations as false. The firm also agreed to delete additional reports related to Mr. Kulibayev, which referenced allegations about him.

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