Particle.news
Download on the App Store

BBC Finds Loan Linked to Alleged Bribery Helped Fund £15m Buy of Prince Andrew's Ex-Home

Lawyers for Kazakh billionaire Timur Kulibayev say the purchase used legitimate funds with no bribery or corruption.

Overview

  • BBC reporting says Timur Kulibayev used a loan from Enviro Pacific Investments to purchase Sunninghill Park in 2009.
  • Italian prosecutors reportedly concluded the company had received money from a 2007 bribery scheme.
  • The property sold for £15 million, about £3 million above the asking price and roughly £7 million over estimated market value.
  • Money-laundering expert Tom Keatinge said the transaction displayed blatant red flags that should have triggered detailed checks.
  • The investigation also reports accusations that Andrew received millions from the oligarch using funds tied to the implicated firm.